Kochi's Marine Eco City: A Transformative Skyscraper Project
A major skyscraper project, Marine Eco City, is set to revolutionize Kochi's real estate sector and skyline. The Kerala State Housing Board (KSHB) is reviving a decade-old plan with a Rs 2,400-crore budget, aiming to create a luxurious, eco-friendly towns
Kochi Real EstateMarine Eco CityKshb ProjectSustainable LivingSkyscrapersReal EstateFeb 12, 2025
The northern side of Marine Drive, a popular promenade facing the backwaters, has been transformed over the past decade.
Highrises such as Abad Marina Plaza, KGL Marine Majestic, and Prestige Neptune’s Courtyard now dominate the skyline, reflecting the city’s vertical expansion.
Now, the ‘mother-of-all’ skyscraper project, Marine Eco City, is set to create a buzz in Kochi’s real estate sector.
Originally proposed a decade ago, the project was shelved due to various reasons.
However, it has now been revived and has gained momentum with its inclusion in the State Budget 2025-26 document.
The government expects a revenue of Rs 3,650 crore from the Rs 2,400-crore project.
According to KSHB chairman T V Balan, “It’s a dream project of the government and is set to come up at the heart of Kochi city, in the flourishing Marine Drive area.
The government has expedited the project, which involves developing a massive residential-cum-commercial complex.
Construction will commence this year, and an empowered committee headed by the chief secretary has been formed to ensure swift execution.”
The KSHB website describes the project as a sanctuary where modern sophistication and sustainable living converge.
Spanning 17.9 acres near G Memorial and Mangalavanam, Marine Eco City will feature flats, shopping malls, a convention center, offices, hotels, and more.
The residential complex will have a total built-up area of 31.48 lakh sq.ft, offering 3BHK and 4BHK apartments.
“Marine Eco City will be constructed in an eco-friendly manner,” says Balan.
“It will be a harmonious blend of luxury and green building design, surrounded by lush greenery and abundant natural light.
There is also a plan to create a bamboo forest.”
The project will be implemented in three phases.
The first phase will see the construction of six 26-storey towers, with a shopping mall on the first three floors, office spaces above, and flats on the top.
The cost for this phase is estimated at Rs 486.38 crore.
KSHB will retain ownership of the 2.47 lakh sq.ft commercial complex, the 85,651 sq ft convention center, and the hotel.
A memorandum of understanding was signed between KSHB and the National Buildings Construction Corporation (NBCC) on December 31, 2024.
An empowered committee was established in May 2024, with its first meeting held on November 12, 2024.
The NBCC floated tenders for Phase 1 implementation last month, and discussions are ongoing with the Housing and Urban Development Corporation to secure initial funding.
The project is being executed on an EPC (engineering, procurement, and construction) basis, where the contractor will be responsible for the entire project, from design to commissioning.
The contract includes comprehensive design, engineering, and allied works.
While the project will follow a township model, its facilities—except for the residential units—will be accessible to the public.
“A lion’s share of the residential units will be luxury flats targeted at premium customers,” says Balan.
“However, we plan to reserve some 3 BHK flats at an affordable price for other sections.
The commercial complex and facilities such as the convention center, mall, and hotel will be open to the public.”
Sethunath M, CEO of Confederation of Real Estate Developers’ Association of India (Credai), Kerala Chapter, believes the project will transform the region.
“While it was conceived a decade ago, the government has now taken it up, anticipating the boom in the real estate market.
It’s a good sign and will add to the growth of Kochi city,” he says.
“However, the government should focus on developing the infrastructure in the whole Marine Drive area.
The roads should be widened and waterway connectivity should be provided.”
Deepak L Aswani, co-chair of Federation of Indian Chambers of Commerce & Industry (Ficci) - Kerala Chapter, is optimistic about the project.
“Ficci conducted a study of the project earlier, and we recommended creating a good ecosystem within the township,” he adds.
“One of the key recommendations was setting up a seafood shop where one can buy fresh catch to finished products under a single roof.”
D Dhanuraj, chairman of the Centre for Public Policy Research, shares some concerns while welcoming the project.
“It augurs well for the city, as it could fuel the growth of the local economy,” he says.
“However, the government should ensure the creation of a good ecosystem first.
Only then can KSHB find genuine buyers.
Moreover, people should settle there once they buy the residential units.
It shouldn’t be like certain other highrises where people, especially NRIs, buy flats as a vacation stay facility.
Only if the buyers reside in the units will it give a boost to the local economy.”
Frequently Asked Questions
What is the total budget for the Marine Eco City project?
The total budget for the Marine Eco City project is Rs 2,400 crore.
When is the construction of Marine Eco City expected to begin?
Construction of Marine Eco City is expected to begin this year.
How many phases will the project be implemented in?
The project will be implemented in three phases.
What are some of the key facilities included in Marine Eco City?
Marine Eco City will feature flats, shopping malls, a convention center, offices, hotels, and more.
What are the environmental features of Marine Eco City?
Marine Eco City will be constructed in an eco-friendly manner, with a harmonious blend of luxury and green building design, surrounded by lush greenery and a plan to create a bamboo forest.
Related News Articles
Arvind SmartSpaces Ltd Sees Impressive Growth with 49% YoY Increase in Bookings
Arvind SmartSpaces Limited announces its Q1 FY25 financial results, boasting a 49% YoY growth in bookings and a 21% increase in collections.
PCMC Contract Worker Arrested in Bribery Case: Water Inspector Remains at Large in Pune
In a significant development, a PCMC contract worker has been arrested in a bribery case, while the water inspector remains on the run. The incident has raised concerns about corruption in public services in Pune, a city known for its rapid growth in real
Country Garden's Sales Decline Deepens in January, Adding to Troubles
Country Garden, one of China's largest real estate developers, has reported a significant drop in sales for January, exacerbating the company's ongoing challenges in the volatile property market.
Alt, the Holding Company for Property Share, to Raise Rs 2.8K Cr in New Funding
Mumbai: Alt, the holding company for Property Share, a leading platform in fractional real estate ownership, is set to raise Rs 2.8K crore. This move is expected to further boost the company's market presence and expand its innovative real estate solution
Pune Real Estate: Property Registrations Decline but Stamp Duty Collections Remain Stable
Pune's real estate market witnessed an 8% Year-on-Year decline in property registrations in January 2025, with a total of 16,330 properties registered. Despite this, stamp duty collections remained steady at ₹590 crore.
Good News! State Government Plans Cancer Hospital in Pune Amid Growing Patients
The state government has announced plans to build a specialized cancer hospital in Pune, a city with a rapidly growing population and increasing number of cancer patients. This move is expected to significantly enhance healthcare services and provide much