Thiruvananthapuram: Growing demand for IT and commercial space in the capital is prompting Technopark to expand private participation in its Phase I and Phase IV campuses. The IT hub has invited proposals from private developers for a major mixed-use development in its established Phase I campus and is preparing to float a fresh Expression of Interest (EOI) for another private co-developer project in Phase IV, also known as Technocity.Technopark has invited proposals for a premium mixed-use development on around three acres in Phase I, directly accessible from NH-66. The project will have a minimum built-up area of four lakh sq ft and can potentially be expanded to around nine lakh sq ft, subject to applicable development regulations and statutory approvals.The development can include IT office space, commercial and retail establishments, a business hotel, convention and conference facilities, food courts, restaurants and other lifestyle amenities. The project is expected to add a new mixed-use destination to the established Phase I campus and cater to the growing demand for office and commercial space.“Demand for quality IT and commercial space in Thiruvananthapuram is increasing, with renewed interest from private developers and companies looking to establish or expand operations here. These projects will help create more space and strengthen the overall ecosystem of Technopark,” CEO Sandip Kumar told TOI.The Phase I project will be complemented by a new Club House and Outdoor Sports Complex on an adjoining parcel of around 1.5 acres. The redeveloped indoor facility will have a minimum built-up area of about 6,600 square metres, and follow barrier-free architectural standards to make it accessible to people with disabilities.The fresh private development initiative in Phase I comes alongside Technopark’s plans to bring in a private co-developer for an IT/ITeS office complex under QUAD. Technopark is preparing to float a fresh EOI for the project in the first week of Sept.QUAD is planned as an integrated “live-work-play” development spread over around 30 acres, combining IT offices, commercial facilities and residential spaces. The project has four major components — an IT office building being developed by Technopark, a commercial complex, a second IT/ITeS office complex and a residential complex. Together, the components are planned to provide around 40 lakh sq ft of built-up space.The second IT/ITeS office complex will come up on approximately 4.5 acres and have around eight lakh sq ft of built-up space. The land will be leased to the private co-developer on a long-term basis, extending up to 90 years on a case-by-case basis. The developer will also have the opportunity to bring reputed IT and IT-enabled services companies to the campus.Technopark had earlier invited EOIs for the private co-developer component but failed to receive bids within the stipulated period. The agency has been seeking a private development partner for nearly a year and is now restarting the process, banking on an improved investment climate and growing interest from private players and global capability centres.“We are seeing a much more positive response from private developers now. Companies, particularly GCCs, are showing renewed interest in establishing or expanding operations in Thiruvananthapuram. So, we are confident that the fresh EOI will receive a better response,” Sandip Kumar added.
