The bidding deadline for the much-anticipated QUAD project in Technopark Phase-IV has been pushed back once again, marking it the third extension. The revised submission date is now scheduled for Dec 18.
The project aims to select a private co-developer to build and operate an 8 lakh sqft IT building at Pallipuram. Initially, the deadline for the revised request for proposal (RFP) was March 12, which was later extended to May 7 and subsequently to June 18 due to a lack of bidder participation.
Despite the delays, Technopark authorities remain optimistic about attracting a suitable co-developer by the new deadline. “We are hopeful of securing a qualified co-developer this time. Once the bids are evaluated, construction will begin within this financial year,” a Technopark source said.In parallel, the IT park has commenced preliminary steps for constructing an 8.5 lakh sqft building, to be built and managed directly by Technopark on the same campus.
The repeated extensions in the tender process stem from difficulties in identifying competitive bidders. The latest RFP introduces revised terms to attract experienced developers. To qualify, co-developers must have a proven record of constructing at least a 6 lakh sq ft IT office building. Additionally, consortiums are barred from participating in the project.
The QUAD project, granted in-principle approval by the state govt in Jan 2022, has a budget of Rs 1,600 crore. It is envisioned as an integrated township with 40 lakh sq ft of built-up space spread over 30 acres. The development will feature office spaces, residential and commercial facilities, hospitals, and educational institutions.
Originally, the project was slated to launch in early 2023, with its first tender published in Sept 2022 and an RFP deadline in Oct of the same year. Technopark officials now aim for construction to commence promptly, ensuring progress toward the mid-2025 completion target.
