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Brigade Group, a Bengaluru-based real estate developer, is set for a significant venture in the city's booming commercial landscape. Teaming up with United Oxygen Company Private Limited, the group is set to embark on the development of a Grade A office space spanning 3 lakh sq ft along ITPL Road in the eastern IT corridor of Whitefield. This joint development agreement (JDA) signals a substantial opportunity, with a projected gross development value of INR 340 crore, as detailed in a regulatory filing.
The choice of location underscores the strategic vision behind the project. Situated on ITPL Road, the development benefits from its prime location and metro connectivity, enhancing its appeal to professionals seeking top-tier work facilities. Nirupa Shankar, Joint Managing Director of Brigade Enterprises Limited, emphasises the property's innovative and sustainable design, which is set to address the growing demand for premium workspace solutions.
Looking ahead, Brigade Group remains steadfast in its commitment to commercial development across key cities such as Bengaluru, Hyderabad, and Chennai in the forthcoming fiscal year. Additionally, the group aims to extend its presence into smaller cities like Thiruvananthapuram and Cochin. Shankar reveals plans to augment the company's operating office assets, which currently stand at 7.5 million sq ft, by an additional 4.5 million sq ft across the aforementioned cities within the next two years.
In addition to its commercial endeavours, Brigade Group outlines ambitious plans to strengthen its retail portfolio. This includes the introduction of a destination mall spanning approximately 0.6 million sq ft in Hyderabad. Furthermore, the company intends to integrate two smaller malls within under-development townships in Bengaluru.
This strategic initiative underscores Brigade Group's proactive approach to capitalising on emerging opportunities within Bengaluru's real estate sector, particularly in the commercial segment. By leveraging its expertise and strategic partnerships, the group aims to meet the evolving needs of professionals while maximising value for stakeholders. Through a combination of prime locations, innovative design, and a commitment to sustainability, Brigade Group positions itself as a formidable player in India's real estate landscape. With a clear focus on expansion and diversification, the group is set for sustained growth and success in the years ahead, further solidifying its position as a leader in the industry.
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