CREDAI Chennai and Port City Colombo explore business opportunities

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The Confederation of Real Estate Developers Associations of India (CREDAI), Chennai, hosted an interaction between its members and representatives of Port City Colombo. The interaction was arranged to introduce Port City Colombo to CREDAI Chennai members and give them exposure to world-class development. The initiative was relevant to members as it enabled them to understand the project, its development framework, and the opportunities that may be of interest to real estate developers and allied industry professionals.

A.R. Rahul Nadh, Member Secretary, Chennai Metropolitan Development Authority (CMDA), said: “Chennai is evolving rapidly in terms of scale, infrastructure, investment, and urban growth, and our planning and regulatory systems must evolve alongside it. CMDA is undergoing a major transformation, including the introduction of SPEED – Single Platform for Efficient Expedited Development, an AI-enabled online planning approval system that will create an integrated digital ecosystem bringing together CMDA, DTCP, urban and rural local bodies, and NOC-issuing departments.”

Mehul H. Doshi, president, CREDAI Chennai, said: “Our objective was to showcase Port City Colombo to our members and government officials. It has a great master plan and since the Tamil Nadu government is considering establishing an AI city, this can serve as a good model for the same. Thulci Aluwihare, deputy managing director, CHEC Port City Colombo (Pvt) Ltd., said: “Chennai is a natural starting point for this conversation, given its proximity to Colombo and strong real estate ecosystem.”

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