June 12, 2024: Real estate developer Brigade Group has announced the launch of Brigade Icon, a high-end mixed-use development in Chennai’s Mount Road. The company plans to invest over Rs 8,000 crore in Chennai by 2030 to expand its presence across residential, office, retail, and hospitality sectors, totaling over 15 million square feet (msf). The gross development value (GDV) of the residential projects alone is estimated at over Rs 13,000 crore.
Brigade Icon will feature a blend of residential, retail and office spaces, designed by the globally renowned architect SOG Design from Singapore. The residences will span 39 floors and include three-, four-, and five-bedroom apartments starting from 2,500 sqft, with a GDV of over Rs 1,800 crore.
Brigade Group has already completed over 5 msf of residential, office, hospitality, and retail real estate in Chennai. Its flagship project, World Trade Center Chennai in Perungudi, OMR, is over 90% leased. The company has a pipeline of over 15 msf across all segments, with the residential sector comprising over 12 msf. In FY25, Brigade plans to launch over 3 msf of residential projects and about 1 msf of commercial development in Chennai.
Pavitra Shankar, managing director of Brigade Enterprises, expressed excitement about the project, highlighting its significance to Chennai’s Mount Road and its premium positioning within Brigade’s portfolio. She emphasized Chennai’s strategic importance as the company’s second-largest market after Bangalore, with plans to double growth by expanding in residential, commercial, retail, and hospitality sectors. Shankar also mentioned that Brigade has signed MoUs with the state government for four projects as part of their Global Investors Meet, with approvals in progress.
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