With the coming of a Rs 5,000-crore hi-tech city project, Kochi will soon attain a global city status. Bangalore-based Sobha Developers have signed an MoU with the state government for developing this hi-tech city. Sobha Hi-Tech City will be an integrated city with focus on research and development, knowledge dissemination, information technology and pure and applied sciences. The city is located close to the National Highway 47 bypass near Maradu in Kochi. It will have seven million sq. ft. of knowledge park, commercial space to provide business-friendly ambience, hospitality and leisure projects, entertainment and amusement facilities, a marina and residential complexes. The project will be completed in eight years and would generate 75,000 direct jobs.