Taurus Investment Holdings draws up Rs 1,200-crore scheme near Technopark

THIRUVANANTHAPURAM: German-Amercian commercial real estate developer Taurus Investment Holdings has drawn up a Rs 1,200-crore scheme for developing a downtown mode social infrastructure close to Kerala's IT hub Technopark here.

Taurus's first Indian imprint, the project is to be located at a 19 acre land leased from the Kerala government, for which negotiations are in advance stage.

Announcing the project at a press meet here, Ajay Prasad, MD, Taurus India Invesment Holdings, said it was conceived as a world class, mixed-use development spread over 35 lakh sq ft, consisting of 25 lakh sq ft IT office space and 10 lakh sq ft of IT supporting infrstructure.

The project, based on "live-work-play" concept, would generate 25,000 direct and 75,000 indirect job opportunities with the phase-I becoming oiperational in 2016, Prasad said.

The company had already started discussions with some of world's biggest services and technology firms to consider setting up offices in Kerala capital and had engaged a leading leasing advisor to bring in key tenants, he said. On reports that the negotiations with the government were facing hurdles over the question of involvement of a local partner, Prasad said he did not think that this was a big issue.

"We have experience in several countries, including Turkey and Australia. We do not think that we will be facing any problem in getting the project through," Prasad said. He said Taurus had also plans for large-scale projects in other parts of India including Bangalore and the National Capital Region.