Brigade Group to invest

Brigade Enterprises Limited will be investing ₹400 crore to develop a commercial project in Chennai, the company said in a statement.
The company has entered into a Joint Development Agreement (JDA) with Agni Estates & Foundations Pvt Ltd to develop Brigade Tech Boulevard, a ‘Grade A’ office space on Pallavaram-Thoraipakkam Radial Road, in Chennai.
The project will have a leasable area of 8.36 lakh sq ft spread across two towers. This will be the next commercial launch by Brigade Group after the successful completion of the landmark ‘World Trade Center’ on OMR.
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“Chennai is a diverse office market with demand from not only IT and ITeS sector but also from several other industry verticals including engineering, automotive and banking, etc. Brigade Tech Boulevard will be of world-class quality, with significant focus on sustainability, similar to all our commercial developments across cities,” said Nirupa Shankar, Joint Managing Director, Brigade Enterprises Limited.
“Given the pre-leasing commitments that Radial Road has had in the past, we are confident that the leasing momentum would increase further with this development,” she said.
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“We have partnered with Brigade for this project given their business acumen on delivering good returns on investment,” said N Jayaprakash, chairman of Agni Estates & foundations Pvt Ltd.
Instituted in 1986, the Brigade Group has completed more than 280 buildings amounting to over 83 million sq. ft of developed space across a diverse real estate portfolio.
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