April 3, 2024: Brigade Enterprises has signed a joint development agreement (JDA) with United Oxygen Company to develop a Grade-A office space along the ITPL Road, Whitefield in East Bengaluru. The project will have a leasable area of 3.0 lakh square foot and a gross development value (GDV) of around Rs 340 crore.
Speaking about the development, Nirupa Shankar, joint managing director, Brigade Enterprises, said, “Bengaluru continues to be the most favoured 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. Further, the sustained momentum in leasing inquiries, and an active pipeline will continue to contribute to our robust leasing performance.”
Commenting on the transaction, director of United Oxygen Company, Ashwin Poorswani said: “Brigade Group’s fundamental foresight of identifying market gaps, differentiating on product, and future enabling office towers to avoid asset obsolescence, is what aligned with our vision of a true Grade “A” office tower.”
Instituted in 1986, Brigade Group has developed many landmark buildings in cities such as Bengaluru, Chennai, Hyderabad, Mysuru, Kochi and Thiruvananthapuram with developments across residential, commercial, retail, hospitality and education sectors. The developer has completed over 280 buildings amounting to over 83 million square foot of developed space across a diverse real estate portfolio.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
