Realty Sector Cheer Vizag Data Centre Project
This is not just an IT project; it is a catalyst for economic growth.
Visakhapatnam: The real estate fraternity hailed the laying of the foundation stone for Visakhapatnam’s first 50 MW AI-powered Edge Data Centre and Open Cable Landing Station (CLS) on Sunday by IT and HRD minister Nara Lokesh.
E Ashok Kumar, president of CREDAI Visakhapatnam, said the initiative would enhance the city’s global connectivity and is expected to create around five lakh IT jobs, providing a major opportunity for local youth.
“This is not just an IT project; it is a catalyst for economic growth. The development is likely to drive housing demand, especially in and around the Rushikonda IT SEZ,” Kumar noted.
He further added, “With this project, many unsold flats are expected to be purchased, which will give builders the confidence to launch new residential projects on a faster timeline. Until now, developers have been cautious, following a wait-and-watch approach. With proactive initiatives from the state government, we anticipate a strong turnaround in the real estate sector in the near future.”