• SmartCity says it has its hands full

The UAE-headquartered builder of technology cluster developments is putting off new projects as it focuses on its $650 million of investments in Malta and Kerala. Both may take 10 years to complete.

The corporation, a joint venture between Tecom Investments and Sama Dubai, has being courted by several would-be partners, according to Tecom’s CEO.

“We are getting requests from many, many countries,” said Abdul Latif Al Mulla. “But we want to take our time to build our foundation.” The new company launched its corporate identity last week during the opening ceremonies of the Gitex IT exhibition in Dubai.

Fareed Abdul Rahman, SmartCity’s executive director, said, “We want to show we’re committed to these two projects.”

But with the Indian economy experiencing dynamic growth, he said SmartCity would be watching the market closely going forward.

Construction of both projects could begin in October, said Abdul Rahman, although the master plan of SmartCity Cochi in Kerala is not complete yet.

The new corporation leverages Sama Dubai’s project management experience and Tecom’s expertise in creating IT-focused economic zones such as Dubai Internet and Media City.