TECOM Investments And State Government Of Kerala Sign Lease Agreement For Smartcity Kochi

A lease agreement that will flag off the development of SmartCity Kochi, an IT infrastructure project jointly promoted by TECOM Investments and the State Government of Kerala in India, has been signed between Abdullatif AlMulla, TECOM Group CEO who is also the Vice-Chairman of SmartCity Kochi, and Suresh Kumar, IT Secretary of the Kerala Government.

The lease agreement for 246 acres of land will set the momentum for the development of a self-sustained knowledge-based industry township in Kochi. It will also bring TECOM Investments a step closer to its international expansion strategy of creating successful prototypes of Dubai Internet City and Dubai Media City at various locations worldwide.

The lease agreement was duly registered the same day for the clustered tech project, which will take shape with an initial investment of US$350 million and generate large-scale employment opportunities in the IT and allied sectors.

The signing ceremony was held during the Board of Directors’ meeting at Infopark. S. Sharma, Minister of Registration and Fisheries and Chairman of SmartCity Kochi, was present during the occasion.

On behalf of TECOM Investments, M.A. Yusuff Ali, Managing Director of EMKE Group, and Anirudha Damkey, Executive Director-Corporate Finance, signed as witnesses, while K. Kurian, Senior Technical Advisor of Infopark, Kochi, and Binu Pazhoor, Chief Executive Officer of Infopark, signed as witnesses on behalf of the State Government of Kerala.

AlMulla said: “This key step reflects our confidence in the vision for SmartCity Kochi and our commitment to the people of Kerala. We are optimistic about completing this project as planned and fulfill all the time-bound contractual obligations mentioned in the framework agreement.

“The progress that will result from the signing of a fresh lease agreement will give further momentum to our plans of continuing the expansion of the SmartCity global network. Reflecting the success story of our knowledge clusters, we aim to utilize the SmartCity project to further strengthen the economies of the communities we are located in.”

Construction on SmartCity Kochi is expected to begin soon after the Special Economic Zone notification is received for 131 acres, which has already been cleared by the Board of Approval of India’s Union Commerce Ministry.

SmartCity Kochi will be one of India’s largest business parks and include a state-of-the-art business community infrastructure and a dynamic range of retail, hospitality, residential and recreational facilities to drive productive business as well as a quality lifestyle. Apart from drawing strong foreign direct investment (FDI) inflows, the project’s multiplier effects are expected to bring several additional benefits to the economy.

The first European outpost of the global SmartCity network, SmartCity Malta is set to become the leading ICT and media destination in the Mediterranean. SmartCity Malta received the ‘Best Investment Award in Europe’ award in 2009, recognising the project as the largest foreign direct investment in a European country.

SmartCity’s self-sustained townships will seek to harness commerce by providing an environment conducive to business, intelligent infrastructure and advanced support systems. SmartCity entities worldwide will be home to vibrant knowledge economies that are anchored by international, regional and local companies.
 

US Secretary Of State Hillary Clinton Meets AUD Students

US Secretary of State Hillary Clinton met, during her visit to the UAE, with the William Jefferson Clinton Scholars at the American University in Dubai (AUD) who were accompanied by President Dr. Lance de Masi and Executive Vice President Elias Bou Saab, today. Secretary Clinton welcomed the AUD group proudly and commanded the students on their choice to expand their educational and cultural horizons by studying in the Arab world through their participation in the Clinton Scholarship Program at AUD.

AUD has been welcoming many visiting students from universities around the world, serving as a gateway to globalization, while offering them a memorable Middle Eastern experience that will greatly influence their worldviews. Of those visiting students, AUD has received over 130 Clinton Scholars from the US , from over 90 top universities, who have learnt firsthand about the region, its culture and faith through AUD’s many programs available to them such as the Certificate in Middle Eastern Studies Program; and through the multi-cultural composition of AUD’s student body consisting of over ninety nationalities which is a microcosm of Dubai’s multi-ethnicity.

Executive Vice President Elias Bou Saab comments on today’s meeting with Secretary Clinton:
“Dubai is a symbol of inter-cultural harmony and understanding. At AUD, and following the directives of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, we are proud to have created an opportunity for American students to be exposed to the Middle Eastern culture for the first time. We are extremely honored that Secretary Clinton took the time from her busy schedule to personally meet with the group from AUD”.

In this spirit, and following former President Bill Clinton’s visit to AUD and his participation as graduation keynote speaker in 2002, the Clinton Presidential Foundation and AUD established the Clinton Scholarship program at AUD to encourage others to witness this diversity. The Clinton Scholarship program today receives over 30 students each year and this Spring 2011 semester, among the many visiting students, we welcomed scholars from the following top universities: Florida Agricultural And Mechanical University, Yale University, Western Kentucky University, Augsburg College, California State University, University Of San Diego, Williams College, and University Of Dayton.
 

YAL-UAE Spotlights Dubai in Aftermath of Global Financial Crisis to Students of North Carolina State University

The Dubai experiment has shown the Arab world a new vision of the possible, enabled by a new generation of empowered and educated Arab youth. This demographic segment may set the stage for a better tomorrow with a generational ripple of change that transcends the Dubai laboratory to reach the whole region, according to Shehab Gargash, CEO, Daman Investments and Member of Young Arab Leaders-UAE Chapter (YAL-UAE).

Gargash’s comments were addressed to visiting students from the North Carolina State University (NCSU) in the US. The delegation comprising 40 students from the university’s Middle East Studies Program is on a six-day tour of the UAE, from 18 – 23 June. The visit comes as part of an endeavor to expose the students to the New Middle East that is emerging in the GCC.

In his presentation, Gargash said: "Sound economic decisions have contributed to the resurgence of Dubai as a hub for finance and commerce. We have the modern, expensive and efficient infrastructure here, and the city is built and continues to remain open for business.

"Previous nay-sayers have bet against Dubai’s resilience and lost. The ’Dubai Factor’ will prevail. The global economic table has grown in size, and with it opportunity comes to those who snatch it, enabling ambitions of many places like Dubai to be realized."

Pointing out that there are new doors opening for new ambitious entrants on the world stage, he said the ’freshmen’ need to better assess the responsibilities that accompany the call to international glory.

Sultan Sooud Al Qassemi, Chairman, YAL-UAE, said: "Through our focus on education and entrepreneurship, YAL-UAE aims to serve as a voice for the Arab world on the global landscape for the implementation of pilot projects that serve community needs under its multi-pronged strategy.

"With our regional reach in the GCC, Middle East and North Africa, YAL-UAE continues to prove an effective platform for the re-building of social, economic and business ties with the US. We welcome more such visits from overseas students for enhanced cultural and academic exchange."

Globally recognized for its science, technology, engineering and mathematics leadership, NCSU’s Middle East Studies Program provides interdisciplinary courses on Arabic, Farsi, Middle Eastern history, religion, architecture and politics. It also offers a minor in Middle East Studies, and will commence a bachelor’s program in Middle East Studies in the forthcoming academic year.

The NCSU delegation’s visit included discussions with political, business and cultural leaders as well as meetings with university students. YAL-UAE also organised tours to institutions and landmark cultural sites, sampling of local cuisine, experiences in public spaces, and other activities that collectively contributed to enriching the students’ understanding of this region.

A non-political organisation, Young Arab Leaders (YAL) is keen to share resources and build long term relationships with organizations and ensure the development of communication mechanisms. Under its ’Education’ agenda, YAL aims to drive internship exchanges and business fellowships for enabling the Arab youth take on the challenges of the regional and global markets.