Brigade Group signs JDA for office space in Bengaluru with a development value of ₹500 crore
The Grade A office space is expected to come up on Sankey Road in Bengaluru’s Central Business District HT News Desk
Brigade Group has entered into a Joint Development Agreement (JDA) to develop a premium Grade A office space in Bengaluru’s Central Business District, with a development value of ₹500 crore.
The developable area of the project is around 0.20 million square feet, the company said.
“This development aligns seamlessly with our commitment to expanding our commercial portfolio. This is a marquee property, and we are happy to be developing it. Further, we are confident that this project will perfectly align with the growing need of an ideal solution for professionals seeking top-tier work facilities,” said Nirupa Shankar, Joint Managing Director, Brigade Enterprises Limited.
Earlier this week, the company announced plans to enter into a partnership to develop a luxury housing project in Mysuru with an estimated revenue potential of ₹300 crore.
The company has entered into a joint development agreement with land owners to develop a luxury housing project spread over 4 acres in Mysuru. Last month, the company had entered into a partnership with Krishna Priya Estates and Micro Labs to develop close to 2 mn sq ft of residential project in Bengaluru with a Gross Development Value of ₹2100 crore. The 14-acre land parcel is located in North Bengaluru.
In recent quarters, Brigade has witnessed increasing tenancy enquiries, which is an indication of improving corporate sentiments.
Established in 1986, Brigade Enterprises Ltd has completed over 80 million square feet of landmark buildings in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, GIFT City-Gujarat, and Thiruvananthapuram, with developments across residential, office, retail and hospitality.