KOCHI: Greater Cochin Development Authority (GCDA) will soon launch two major infrastructure projects. It has invited expressions of interest (EoI) for constructing residential-cum-commercial complexes in Kakkanad and Kadavanthra. The projects are being implemented on a public private partnership (PPP) model.
GCDA is planning to construct a twin tower on 80 cents land in Kadavanthra where the GCDA quarters stands. GCDA will demolish the existing two-storey building, built around 50 years ago, as they are presently in a dilapidated condition.
“Total cost of the project, which comprises two towers and a common commercial area, will be around Rs 70 crore. It will be developed with support from a private group. As per the proposal, we are planning to set up GCDA quarters in one tower. The private firm that will develop the entire property will have the right to operate the second tower. GCDA will operate the commercial three-storied building,” said a GCDA source.
In Kakkanad, GCDA is planning to set up a multi-storied complex at Olimugal on PPP basis. The project, which includes mixed-use components, will be developed on 129 cents in Thrikkakara South village. The site, which currently has an old building, is located in a prime area facing Seaport-Airport road.
As per the EoI document, modern office spaces designed for tech companies and startups, virtual offices, coworking spaces, shopping malls, business centres, conference halls, meeting rooms, etc, will be included. The residential spaces will include apartments, service apartments and business hotels. Recreational facilities, such as gymnasiums, will also be a part of the project.
