Realty firm Brigade Enterprises Ltd on Thursday (May 8) said it has acquired an 11-acre land parcel opposite International Tech Park (ITPL) in Whitefield, Bengaluru, as it looks to expand its commercial real estate footprint in the city’s key tech hub.
The land will be developed into a premium office space project with a gross leasable area of around 1.5 million square feet. The proposed development carries a gross development value (GDV) of over ₹2,000 crore.
Nirupa Shankar, Joint Managing Director, Brigade Enterprises, said, “This strategic acquisition is a significant step in our journey to create world-class commercial spaces that are inspired by creating a sustainable and future-ready workspace. Whitefield remains a prime destination for office demand due to metro connectivity and the vibrant corporate ecosystem that exists.
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With cutting-edge architecture and future-ready, sustainable infrastructure, this project will stand out in Bengaluru’s commercial landscape while enhancing Brigade Group’s leadership in the grade A office leasing segment. This project will also work towards bringing us closer to achieving our net-zero target.”
Last month, Brigade Enterprises entered into a joint development agreement (JDA) for a plotted development project in Malur, East Bengaluru. The project will span approximately 20 acres and has a GDV of around ₹175 crore. The total development potential is pegged at 0.45 million square feet.
Pavitra Shankar, Managing Director, Brigade Enterprises Limited, said, “We continue to identify high-potential land parcels that align with our long-term vision of creating well-planned communities with a focus on quality, sustainability, and innovation.
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Malur, located along the Satellite Town Ring Road (STRR) and Chennai Expressway, is emerging as an attractive residential destination, offering connectivity to key hubs in Bengaluru.
Shares of Brigade Enterprises Limited ended at ₹994.30, down by ₹22.15, or 2.18%, on the BSE.
(Edited by : Shoma Bhattacharjee)
