New Delhi, Apr 18 (PTI) Realty firm Embassy group on Monday said it has given on lease 85,000 square feet of office space to Acsia Technologies in Trivandrum, Kerala.
Acsia Technologies is its new tenant in the Embassy Taurus TechZone project, it said in a statement.
As part of their major expansion project, Acsia’s new office, comprising 85,000 square feet, will be able to accommodate more than 1,000 new employees.
The 2 million square feet world-class SEZ (Special Economic Zone) and non-SEZ office space is located in a renowned growth corridor 12 kilometres away from the international airport.
Aditya Virwani, COO (Chief Operating Officer) of Embassy Group, 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, he added.
“While the omicron variant created some short-term hurdles, this is a testament to how demand for grade-A office spaces has not been diminished by COVID-19 in the least,” Virwani said.
He expressed confidence that the trends of strong hiring by global firms and the heightened physical occupancy levels would continue to drive a robust recovery of office leasing and the real estate sector.
Jijimon Chandran, CEO of Acsia Technologies, said the company is poised to hire 1,000 new employees in the coming months, consolidating the commitment to further advance the home of its main development centre, Trivandrum.
The company is into developing software solutions for major automotive car makers.
Founded in 1993, Embassy Group is one of India’s largest real estate firm with a broad portfolio of over 62 million square feet of prime commercial, residential, retail, hospitality, services, and educational spaces.
According to property consultant JLL India, the net office leasing in January-March 2022 jumped over two-fold to 11.55 million square feet across seven major cities.
Colliers India said the gross office space leasing across top six cities rose sharply to 13 million square feet in January-March 2022 from 4.7 million square feet in the year-ago period while supply doubled to 14.3 million square feet from 7 million square feet. PTI MJH RAM
