Embassy Group has announced Allianz companies as its first marquee tenant at Embassy Taurus TechZone. Taking up 463,704 sq-ft of the Grade-A office space, this development records the largest single office lease transaction in the city, cementing Trivandrum as one of South India’s preferred IT/ITeS destinations.
The 3 million sq-ft SEZ (Special Economic Zone) office space is being jointly developed by Taurus Investment Holdings India and Embassy Group in Taurus Downtown Trivandrum. The LEED Gold-rated buildings will offer quality, sustainable and energy-efficient workspaces.
Aditya Virwani, COO, Embassy Group, said, “Allianz Companies’ lease at Embassy Taurus TechZone is the largest single office transaction of its kind in Trivandrum, and the beginning of recovery for the Indian real estate sector. This is a testament to how demand for large office spaces by blue chips has not been diminished by covid-19.”
Somesh Jauhari, CPO (chief people officer) for Allianz Technology India and Allianz Services India, said, “With this new space, we aim to consolidate our presence of close to two decades in Technopark, Trivandrum, across multiple buildings, by creating a modern and safe world-class working environment for our people and continuing to be a Great Place to Work.”
John Thomas, CEO, Kerala IT Parks, said, “Taurus Downtown Trivandrum is one of the landmark projects of this Government. Trivandrum is a growth center for companies looking at Tier-2 cities as an option to consolidate or expand their businesses.”
The handover timeline for the tenancy is scheduled for November 2022.
ETTZ, is a part of the Downtown Trivandrum project, a mixed-use development with seamless integration of commercial, retail, entertainment, and hospitality experiences. A globally renowned co-working service provider will set up a facility at ETTZ, while Mexico-based Cinepolis will also set up Kerala’s largest 15-screen multiplex in the project, which will include Kerala’s first IMAX screen. The project on completion is expected to generate over 30,000 direct jobs.
