THIRUVANANTHAPURAM: As the IT industry and investment scenario picks up pace, the first SEZ (Special Economic Zone) building coming up as part of Embassy Taurus TechZone at Technopark phase-III here will be ready by November 2022.
Interestingly, 50 per cent Niagara, the 1.5-million-sq-ft office building, has been leased out even before its completion. Currently, eight out of 11 floors of the building have been built and the construction is going on in full swing to complete it by the deadline.
It is part of the project, Taurus Downtown Trivandrum, a mixed-use development project by Boston (US)-based Taurus Investment Holdings and its partners. The project is expected to be a game-changer for the state’s IT industry as the building will have several reputed multinational tech firms. Taurus Yosemite, a non-SEZ project, too has been leased out 50 per cent before its construction has even started.
Sources privy of the project’s progress say the leasing of Niagara also includes the largest office space deal done in a tier-II Indian city. A twin building, Victoria, will come up near the Niagara building having the same square footage and number of floors. This SEZ building is expected to break ground from November once Niagara’s construction is over. The Taurus Yosemite project will have 0.62-million sq ft of non-SEZ office space and is expected to be completed in the third quarter of 2023.
Besides IT office spaces, there will be a 1.3-million sq ft mall, Taurus Zentrum, which will provide the employees and the public a retail, entertainment and hospitality experience. It is expected to be the largest mall in the region in terms of Gross Leasable Area (GLA) and is likely to be completed in 2024. Asset Taurus Identity, a residential project having service apartments and a 155-keys hotel are also part of the project.
“Taurus Downtown Trivandrum is a flagship project of Taurus Investment Holdings in India and is very vital for our future investments in the country. We are excited about the exuberant market response to the project and the pace at which construction is progressing. We are confident of attracting more companies to the city through the project,” said Anil Kumar, COO & senior vice-president, Taurus India.
The project will include a world-class water conservation system and a waste management system based on latest technologies. It is being designed as an energy-efficient green infrastructure with a significant part of energy generated from solar power. The buildings will also be equipped with adequate EV charging points. Yosemite and Zentrum have been registered for Gold WELL certification for clean and healthy working environment.
Keystone, an 800-seat incubation facility, is designed to assist businesses with initial work and getting them up to speed, before their office spaces become operational. The first of its kind IT/ITES office facility in Kerala is also the first functional office space building in Embassy Taurus TechZone, the 3-million sq ft SEZ office space being jointly developed by the Embassy Group and Taurus Investment Holdings.
The spaces are equipped with meeting rooms, conference rooms, a cafeteria, fire alarm and fire protection systems, 100% power backup and a building management system for efficient operation. Chief Minister Pinarayi Vijayan launched the Rs 2,000-crore Taurus Downtown project in 2018.