World Trade Center- Brigade Enterprises

World Trade Center- Brigade Enterprises

Realty firm Brigade Enterprises Ltd on Monday said it will invest Rs 400 crore to build an office complex in Chennai.

In a statement on Monday, Bengaluru-based Brigade Enterprises said it entered into a joint development agreement (JDA) with Agni Estates & Foundation Pvt Ltd to develop ‘Grade A’ office space ‘Brigade Tech Boulevard’ on the Pallavaram-Thoraipakkam radial Is. Road, Chennai.

“With an investment of approximately Rs 400 crore, the project will have a leasable area of ​​8.36 lakh sq ft spread across two towers,” it said.

This will be the next business project undertaken by Brigade Group after the successful completion of ‘World Trade Centre’ at OMR.

Nirupa Shankar, joint managing director, Brigade Enterprises, said, “Chennai is a diverse office market, where there is demand not only from the IT and ITES sector but also from many other industry sectors including engineering, automotive and banking etc.

He said that there is a high demand for offices with sustainability, seamlessly integrated digital connectivity and A grade office certification.

“Given Radial Road’s pre-leasing commitments in the past, we are confident that leasing momentum will further increase with this development,” Shankar said.

Commenting on the transaction, RN Jayaprakash, Chairman, Agni Estates & Foundations, said, “We have partnered with Brigade for this project given their business acumen in delivering good returns on investment.”

Brigade Group is one of India’s leading property developers.

Established in 1986, the company has developed several projects in South India, namely Bengaluru, Chennai, Hyderabad, Mysuru, Kochi and Thiruvananthapuram.

It is in development of projects across all sectors – residential, office, retail, hospitality and education.

Since its inception, Brigade has constructed over 280 buildings on over 83 million square feet of developed space.

(Only the headline and image in this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

first published: 15 April 2024 | 11:07 pm First

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