Brigade Group signs joint development agreement for office space in Bengaluru worth ₹340 crore

The project, located in Whitefield, will have a leasable area of 3 lakh sq ft, and a gross development value (GDV) of around ₹340 crore.

Updated on: Apr 4, 2024, 07:26:32 IST

By HT News Desk

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Brigade Enterprises Limited has signed a Joint Development Agreement (JDA) with United Oxygen Company Private Limited to develop an office space in Bengaluru worth ₹340 crore.

The project, located in Whitefield, will have a leasable area of 3 lakh sq ft, and a gross development value (GDV) of around ₹340 crore.

Also Read: Office market net absorption in Q1 2024 at 11.5 mn sq ft across top 8 cities

“Bengaluru continues to be the most favored office leasing market, and demand continues to improve in the Whitefield micro market. Given this property’s prime location, metro connectivity and the property’s innovative and sustainable design at the forefront, 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.

Also Read: Brigade Group plans to launch more than 6.5 mn sq ft of housing projects in Bengaluru and Chennai; Invest ₹2700 cr

Director of United Oxygen Company Private Limited, Ashwin Poorswani said, “We look forward to partnering with the Brigade Group on this project given their ability to deliver lasting value to office occupiers, investors, and the environment.”

Instituted in 1986, Brigade Group has completed more than 280 buildings amounting to over 83 million sq ft of developed space across a diverse real estate portfolio.

Also Read: Brigade Group signs JDA for office space in Bengaluru with a development value of ₹500 crore

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HT News Desk
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