THIRUVANANTHAPURAM: In a bid to attract more IT space for Technopark, the park authorities are likely to float a tender for the much-anticipated QUAD project this month. This project will be an 8.5 lakh building owned and operated by the Technopark management.
Sources close to the project said that there are two QUAD projects—one will be built and operated by a co-developer and the second will be built and operated by Technopark.
Since the first co-developer project remains uncertain due to the non-participation of bidders, Technopark decided to proceed with the second project, which has 8.5 lakh sq ft at Technopark Phase-IV at Pallipuram in Thiruvananthapuram.
“The design of the project is ready. So we are proceeding with floating the tender soon. It will be a big project to ensure that the demand for IT space in the capital is fulfilled. However, the decision on the co-developer building has yet to be taken,” a source said.
The IT building will come up on 5.5 acres of land and it will be built at a cost of Rs 381 crore, which will be leased out to companies. It will have the potential to employ 6,000 IT professionals. Since it will be a building owned by Technopark, the work is expected to be completed at a faster pace. A project architect consultant was selected earlier.
The co-developer project was supposed to take off either in Jan or Feb this year, as the original RFP deadline was in Oct last year. The state govt granted in-principle approval for the Rs 1,600 crore QUAD project in Jan 2023. This integrated township project, slated for completion by mid-2025, involves the construction of 40 lakh sq ft of built-up space on 30 acres, encompassing office space, residential and commercial facilities, hospitals, and educational institutions.
