In a recent regulatory filing dated April 3, Bengaluru-based real estate giant Brigade Group announced a significant stride in its developmental journey. The company has inked a joint development agreement (JDA) to construct a sprawling 3 lakh sq ft of Grade A office space. Situated in the bustling eastern IT corridor of Whitefield along ITPL Road, this venture holds a potential gross development value estimated at Rs 340 crore.
Teaming up with United Oxygen Company Private Limited, Brigade Group aims to capitalize on the strategic location and burgeoning demand for premium workspace solutions. Nirupa Shankar, the Joint Managing Director of Brigade Enterprises Limited, expressed confidence in the project's success, citing its prime location, metro connectivity, and innovative, sustainable design as key factors.
"This project will perfectly align with the growing need for an ideal solution for professionals seeking top-tier work facilities," stated Shankar.
Looking ahead, Brigade Group divulged its ambitious expansion plans, particularly focusing on commercial development in key cities like Bengaluru, Hyderabad, and Chennai. Additionally, the company aims to broaden its footprint in smaller cities such as Thiruvananthapuram and Kochi.
Nirupa Shankar, in a previous interaction with Moneycontrol, revealed the company's strategic vision, stating, "We currently have 7.5 msf of operating office assets. However, within the next two years, we are looking to add a total of 4.5 msf in the three cities."
In alignment with its growth trajectory, Brigade Group also disclosed intentions to bolster its retail portfolio, envisioning the addition of one destination mall in Hyderabad spanning approximately 0.6 msf. Furthermore, plans are underway to integrate two smaller malls into ongoing township developments in Bengaluru.
With these strategic moves, Brigade Group reaffirms its commitment to innovation, sustainability, and meeting the evolving needs of professionals and communities across India's urban landscape.
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