Brigade Enterprises Limited has announced plans to invest ₹400 crore in the development of a commercial project in Chennai, according to a statement released by the company.
Under a Joint Development Agreement (JDA) with Agni Estates & Foundations Pvt Ltd, Brigade Enterprises will spearhead the development of Brigade Tech Boulevard, a state-of-the-art ‘Grade A’ office space situated on Pallavaram-Thoraipakkam Radial Road in Chennai.
The upcoming project will encompass a leasable area spanning 8.36 lakh sq ft across two towers, marking Brigade Group’s next commercial venture following the successful completion of the renowned ‘World Trade Center’ on OMR.
“Chennai represents a dynamic office market with demand stemming not only from the IT and ITeS sectors but also from various other industry verticals including engineering, automotive, and banking,” highlighted Nirupa Shankar, Joint Managing Director of Brigade Enterprises Limited. “Brigade Tech Boulevard will exemplify world-class quality with a strong focus on sustainability, aligning with the standards set by all our commercial developments across different cities.”
Shankar expressed confidence in the project’s leasing potential, citing the strong pre-leasing commitments witnessed on Radial Road in the past. “We anticipate a further surge in leasing momentum with the launch of Brigade Tech Boulevard,” she affirmed.
Commenting on the partnership, N Jayaprakash, Chairman of Agni Estates & Foundations Pvt Ltd, lauded Brigade’s expertise in delivering compelling returns on investment, underpinning the strategic collaboration between the two entities for this development.
Established in 1986, Brigade Group boasts a robust track record encompassing the completion of over 280 buildings spanning more than 83 million sq. ft of developed space across a diverse real estate portfolio.
The investment in Brigade Tech Boulevard underscores Brigade Enterprises Limited’s commitment to fortifying its presence in Chennai’s commercial real estate landscape while further enhancing its reputation for delivering premium, sustainable developments tailored to meet evolving market demands.
