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The bidding deadline for the QUAD project in Technopark Phase-IV has been extended for the third time, now set for December 18. The project aims to select a private co-developer to build an 8 lakh sqft IT building at Pallipuram. The deadline had previously been extended due to a lack of bidder participation. Despite these delays, Technopark officials remain optimistic about securing a qualified co-developer by the new deadline. Meanwhile, Technopark has started planning the construction of a separate 8.5 lakh sqft building, which will be managed directly by the park. The project has a budget of INR 1,600 crore, with work anticipated to begin soon after the new bids are evaluated.
The bidding deadline for the much-anticipated QUAD project in Technopark Phase-IV has been extended once more, marking the third such delay. The revised submission deadline is now set for December 18. The project seeks to identify a private co-developer to construct and operate an 8 lakh sqft IT building in Pallipuram. The initial deadline for the revised request for proposal (RFP) was March 12, but it was later extended to May 7 and then to June 18 due to limited bidder participation. Advertisement
Despite these delays, Technopark officials remain optimistic about securing a suitable co-developer by the new deadline. A source from Technopark mentioned that they were hopeful of finding a qualified co-developer this time, and once the bids are evaluated, construction will begin within the current financial year.
In parallel, Technopark has started taking preliminary steps to build an 8.5 lakh sqft building, which will be constructed and managed directly by the park within the same campus. The repeated extensions in the tender process are due to challenges in attracting competitive bidders. The latest RFP includes revised terms intended to appeal to experienced developers. To qualify, co-developers must have a proven track record of constructing IT office buildings of at least 6 lakh sqft. Additionally, consortiums are now excluded from participating in the project.
The QUAD project, which received in-principle approval from the state government in January 2022, has a budget of INR 1,600 crore. The development is planned as an integrated township with 40 lakh sqft of built-up space across 30 acres. The site will feature office spaces, residential and commercial facilities, hospitals, and educational institutions.
Initially, the project was expected to launch in early 2023, with the first tender published in September 2022 and the RFP deadline set for October of the same year. However, Technopark officials now aim to begin construction promptly, ensuring progress toward the mid-2025 completion target.
Despite facing multiple delays in its tender process, the QUAD project in Technopark Phase-IV remains on track to attract a qualified co-developer. Technopark authorities are hopeful that the new bidding deadline will lead to the selection of a capable partner, allowing construction to begin within the financial year. Alongside this, Technopark is also progressing with plans to construct an additional 8.5 lakh sqft building on the same campus. With a large budget and ambitious development goals, the QUAD project aims to transform the area into a major integrated township by mid-2025.
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