On completion, the Downtown project is expected to create additional 20,000 direct employment opportunities within the Park.
India’s largest IT Park is all set for the next phase of infrastructure development with the Rs.1,200 crore, ‘Technopark Downtown’ Project.
Nearly a year after awarding contract to the US based Taurus Investment Holdings to set up Downtown project, Technopark has finally signed a framework agreement with the Boston-based firm.
Under the Downtown project, 2 IT buildings, with a total of 1.8 million sq ft built-up area, will be constructed in the 10 acre Special Economic Zone of the Technopark’s Phase 3 campus. The framework also includes the development of another 9.73 acres in the non-SEZ commercial land for construction of offices, a retail mall, hotels, convention facilities, multiplexes and other utilities to support the existing and future activities of Technopark. Also, discussions are underway to launch a world-class innovation hub, supported by global institutes and corporate partners within Downtown Technopark.
In first phase around 15 Lakhs sq.ft area of office will be constructed. While in second phase, an additional 9.4 lakhs sq.ft built up area office will be developed. Apart from this, a 12 lakh sq.ft of space will be developed for retail, social infrastructure and hospitality in phase-1 besides a second hotel of 1.2 lakhs sq ft in phase-2.
If all goes well, the project will likely start by March 2016. The first phase construction is scheduled to be completed by mid-2018 and the second phase by 2020.
On completion, the Downtown project is expected to create additional 20,000 direct employment opportunities within the Park. The project will also contribute to the overall development of the region.
Image Source: Taurus Investment Holdings Facebook Page