Allianz Group leases 4.63 lakh sq ft in Embassy Taurus TechZone

Allianz Group has leased 4.63 lakh sq ft in Embassy Taurus TechZone, in the largest single office lease transaction in the country this year.

The new office space located in Trivandrum will see the firm consolidate and expand its operation in the city and is expected to be operational by the end of this year.

“This also reaffirms our commitment to further grow in this location that’s home to over 5,500 Allianz employees and remains one of the single largest locations for Allianz outside of Europe,” said Somesh Jauhari, CPO (Chief People Officer) for Allianz Technology India and Allianz Services India.

The 3 million sq. ft. world-class SEZ (Special Economic Zone) office space is being jointly developed by Taurus Investment Holdings India and Embassy Group in Taurus Downtown Trivandrum.

“This is a testament to how demand for large office spaces by blue chips has not been diminished by Covid-19, and we are confident that it will continue to grow,” said Aditya Virwani, COO (Chief Operating Officer), Embassy Group.

Plans to return to work had been thrown off course by the second wave, and then the Omicron threat has forced companies t extend work from home.

However, there is expected to be a sharp recovery with some large deal closures last year, with MNCs again evaluating expanding operations, albeit at a slow pace.

Office leasing activity grew nearly 16% from a year ago to surpass 41 million sq ft in 2021 led by occupiers from information technology, coworking, engineering and manufacturing sectors, mentioned CBRE.


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