KOCHI: Global Fortune 500 companies that include Allianz will open facilities in Kerala with US-based Taurus Investment Holdings finalising deals with these companies for allotting space in its upcoming Taurus Downtown Trivandrum project.
Taurus is bringing global majors to Kerala after taking the foreign direct investment (FDI) route to partner with Kerala-based Asset Homes for developing the Downtown Trivandrum project in Technopark Phase III.
“We have joined hands with Asset Homes for joint development and investment in the Downtown project. We decided to partner with Asset Homes considering its well-established systems in place, corporate governance, high-quality products, innovative ideas and growth prospects,” said Taurus Investment Holdings global president Erik Rijnbout.
Taurus India managing director Ajay Prasad said they had already finalised deals with a few Fortune 500 companies and NYSE-listed companies for allotting space in the Downtown project. “It’s going to be a huge project that will attract investment from global brands. We have concluded deals with many and Allianz is one among them. We are not in a position to reveal the details of others at this point of time,” he said.
“This is the first time that a Kerala-based real estate company has attracted FDI for undertaking real-estate development projects. Taurus Downtown Trivandrum will have a total of 55 lakh sq ft built-up space on approximately 25 acres of land. Apart from residential towers, it will have 35 lakh sq ft space for offices and Kerala’s largest shopping centre,” said Asset Homes founder and managing director Sunil Kumar V. He said that apart from taking up new projects in other parts of the country, the company will also enter the Middle East market with two residential projects in Dubai. The company will also launch mega township projects on a 22-acre plot in Kalamassery.