“I recently talked to Sunil Mittal, Rahul Bajaj and Mukesh Ambani at the World Economic Forum meet at Davos. The perception about Kerala that they all share is that it’s difficult to do business with Kerala. I countered this by listing my own investments in the state,” Yusuffali said while addressing a meet-the-press program organized by the Press Club here Tuesday.
Explaining how he succeeded in convincing the Tecom authorities to go ahead with the SmartCity Kochi project after four meetings in a month, he said a professional approach was needed for the authorities to attract big investments.
He swung into action after Chief Minister VS Achuthanandan formally requested his mediation after four years of dillydallying and took a high-level delegation from Dubai to Kerala to finalize the deal. The lease agreement between the two will be signed in Kochi Wednesday.
Elaborating on his investment plans for the state, he said India’s biggest shopping mall is nearing completion at Edappally and India’s biggest convention center on the Willingdon Island in Kochi. Another five star hotel is nearing completion near the Cochin International Airport. “I have lived in the Gulf for 37 years and all my earnings are being invested back home and I am doing that because I have faith in the potential of this state. That way we can generate jobs and help others,” said the businessman, who owns a chain of 36 shopping malls, mostly in the Gulf region.
He opened the Lulu International Convention Centre, the biggest of its kind in Kerala, along with a five star hotel in his hometown of Thrissur three years back. Five star hotels are also part of the shopping mall and the new convention centre in Kochi.
He said 75 percent of the work on the 15 billion rupees shopping mall was completed and it would be launched in January. The 26 acres of land for the 6 billion rupee international convention center has been taken over from the Cochin Port Trust and work will begin next week.
He said his aim was to convert Kerala into a shopping and convention destination, making a cheaper and more attractive alternative to Singapore and utilizing the huge local talent pool. The cost factor is the biggest advantage of the state as a destination for meetings and conferences.
“The biggest problem that the state now facing is its aging population who are left home alone as their children has to toil abroad to make a living. The youngsters are forced to leave home because there are few resources and no jobs,” said Yusuffali, who is also the lone non-Arab director of the Abu Dhabi Chamber of Commerce. “The only flourishing business here is old-age homes”.
The 2 million square feet shopping, entertainment and leisure complex is spread across 17 acres of prime land strategically located at the intersection of NH17, NH47 and Cochin Bypass at Edappally.
The Lulu Shopping Mall will house some of the best brands in fashion, cosmetics, home furnishings, jewelry, an amusement center, a multiplex and a huge food court.
The mall, along with the 315-room Marriott hotel with all top class facilities such as a spa, gym, swimming pool and halls, is expected to generate direct employment for 8,000 people and indirect job opportunities for more than 20,000 people.
