[6] As of 2021, SmartCity houses about 50 companies which includes Fortune 500 corporations such as Baker Hughes and Ernst & Young, employing close to 5,000 professionals.

Later when Oommen Chandy was the Chief minister, the government invited the Dubai Internet City officials for a feasibility study and later the Memorandum of Understanding (MoU) was signed in year 2005.

This breakthrough was arrived as a result of the mediation by the Vice Chairman of Norka-Roots and a renowned businessman from the state M. A. Yousuf Ali.

Construction of SmartCity was launched by the Chief Minister Mr. Oommen Chandy on 8 October 2011 in a glittering event held at site.

The SmartCity Experience Pavilion, which locates the offices for the administrative and project management team, was launched on 9 June 2012.

The development encompasses 3.7 million sq.ft of built up area with the potential to generate jobs in excess of 30,000 when fully occupied.

Phases three, four and five are also under discussion as the potential investors are planning to build ready-to-move-in residential plots with an estimated amount of Rs.4000 crore.

The project site is located adjacent to InfoPark, Kochi, one of the state owned IT parks in Kerala.

The presence of InfoPark, SmartCity, KINFRA Park, etc., makes the region of Kakkanad a very important center for IT/ITES in the state of Kerala.

Other major bandwidth providers such as Vodafone, Tata Communications, BSNL, Reliance, Bharti Airtel and Power Grid Corporation of India are also present in the park.