Embassy Taurus World Technology Centre Gets Final Nod From The Government Of Kerala
Embassy Property Development Private Limited and Taurus Investment Holdings, the JV entities Winterfell Realty Private Limited and Dorne Realty Private Limited, signed the lease agreement for 12.12 acres of land in Technopark, Trivandrum.
The land has been leased from Technopark, Government of Kerala for a period of 90 years. Out of the 12.12 acres earmarked for office space, 10 acres is under the Special Economic Zone (SEZ) and 2.12 acres is Non-SEZ. Embassy Taurus World Technology Centre will build 2.8 million square feet of premium Grade A office space and 5,00,000 square feet of Grade A office space in the non-SEZ land parcel. Embassy, the leading commercial office space provider in the country will bring in its proven expertise in project development, leasing and property management to this landmark project. Bangalore based international construction management firm, Synergy Property Development will manage the development of the project.
Chief Minister of Kerala, Pinarayi Vijayan said “Embassy Taurus World Technology Centre that’s being set up in Technopark Trivandrum will impact Kerala’s IT scene like never before. That the project will facilitate the creation of 35,000 direct jobs will help the state to leapfrog to the status of top-tier II destination in India.”
Chairman and Managing Director of Embassy, Jitu Virwani, said “Progressing forward from our partnership with Taurus in September last year, we are happy to sign the lease agreement with the Government of Kerala for the Embassy Taurus World Technology Centre. Our foray into the state of Kerala is in line with our vision to be a part of the significant growth of SEZ’s in the country. The establishment of this large SEZ project will expedite the growth of the state by creating multiple job opportunities, with well-known firms planning major developments in the region”
Ajay Prasad and Hrishikesh Nair also signed the lease agreement for Dragonstone Realty Private Limited which will be constructing retail and entertainment space and a 175-key business hotel in another 7.64 acres of Non-SEZ land.