Real estate company Embassy Group said on April 18 that it has leased 85,000 square feet of office space to Acsia Technologies in Kerala's capital city Thiruvananthapuram.
Embassy Group said it has leased the office space at its project Embassy Taurus TechZone in Thiruvananthapuram. Acsia has committed space in the upcoming block 'Niagara' in Embassy Taurus TechZone, which is scheduled for handover in April 2023.
Acsia's new office, comprising 85,000 square feet, will be able to accommodate more than 1,000 new employees.
The 2 million sq. ft. Special Economic Zone and non-SEZ office space is located in a growth corridor 12 kilometres away from the international airport.
The integrated development will provide access to food courts, banks, ATMs, day cares, and healthcare centres. Offering quality, sustainable, and energy-efficient workspaces, the LEED Gold-rated buildings will host an end-to-end building management system, the company said.
"We are delighted to announce the signing of Acsia Technologies as a new tenant at Embassy Taurus TechZone, signalling that global companies are anticipating their next phase of growth in Kerala. Embassy Group is primed to meet this increasing demand for Trivandrum’s booming IT and ITeS sectors with our future-first, state-of-the-art, and sustainability-centric office spaces," said Aditya Virwani, COO (Chief Operating Officer), Embassy Group.
While the omicron variant created some short-term hurdles, this is a testament to how demand for grade-A office spaces hasn’t been diminished by Covid-19 in the least, said Virwani. He expects the trend of strong hiring by global firms and the heightened physical occupancy levels will continue to drive a robust recovery of office leasing and the real estate sector.
“Taurus India is pleased to welcome Acsia Technologies to Niagara at the Embassy Taurus TechZone. The strong leasing performance at Niagara is testament to the attractiveness of the Trivandrum market to global occupiers and to the growing momentum for employees to return to high quality, collaborative work spaces such as those at Niagara,” said Ajay Prasad, MD, Taurus India.
Jijimon Chandran, CEO, Acsia Technologies, the Technopark-based company developing software solutions for major automotive car makers and Tier 1s, said, "A part of Technopark’s growth story since 2014, this new space at Embassy Taurus TechZone is the beginning of Acsia’s expansion project. Trends in the automotive market point to the mounting need for automotive software, sustained by rapid adoption of electric and electronics – we are rising to meet the demands of our customers in constant search of talent in advanced automotive software."
In recent years, Trivandrum has become an attractive option for multinational and global firms looking for contemporary, technology-enabled, and flexible office spaces.
In addition to Acsia, the city is already home to several automotive tech companies such as Nissan, Visteon, Tata ELXSI, and others, as well as companies such as UST, Tech Mahindra, Infosys, and Hitachi Consulting that are driving projects in the automotive sector. The city already boasts a cluster of Fortune 100 and 500 firms from the financial services industry, with up-and-coming industries encompassing life sciences and aerospace.ETTZ is a part of the Taurus Downtown Trivandrum project, a mixed-use development with seamless integration of commercial, retail, entertainment, and hospitality experiences. Mexico-based Cinepolis will set up Kerala’s largest 15-screen multiplex in the project, which will include Kerala’s first IMAX screen. On completion, the project is expected to generate over 30,000 direct jobs.