The Rs.1200 Crore Project by Taurus for Developing Technopark’s Phase III wins Swiss Challenge!

TechnoparkToday.com> Technopark’s Swiss Challenge bid got the proposal submitted by Taurus Investment Holdings and its partners Hansji Corporation and Rose Global LLC to create a business district in technopark Phase III. Taurus Investment Holding’s bid with a foreign direct investment of around Rs.1,200 crore will become one of the single largest offers by a US-European entity for Kerala.

Boston based real estate firm Taurus Investment had submitted a proposal to develop around 2,500,000 sq.ft of built-up space on a 90-year lease in January. Three developers-Infrastructure & Financial Services (IL&FS), Lulu Group and Infrastructures Kerala (INKEL)- had expressed interest in the project.

Taurus has proposed to develop 2,500,000 sq.ft of world class facilities with an investment of over Rs.1,200 crore. Anchoring the development will be 15 to 20 lakh sq.ft of IT office space, which will provide employment to over 20,000 IT professionals.The rest of the project will be made up of hotels, shopping facilities and a convention center.

The first phase is expected to begin by June 2014 with a commissioning date January 2017. Technopark has one of India’s biggest technology office clusters with more than 42,000 IT professionals working in over 300 companies, including some of the biggest names in the IT industry.