Chennai, NFAPost: Leading real estate developer Brigade Group has announced expansion plans in the residential and hospitality sectors in Chennai.
The company has signed a joint development agreement with PVP Ventures Ltd to develop 2.5 million square feet, high- rise residential project, spread across 16 acres in the bustling neighbourhood of Perambur, Chennai with a revenue potential of about Rs 2000 crore.
The Bengaluru-headquartered Brigade has also signed a 45-year lease agreement to build a 250-room resort on East Coast Road (ECR), and is in talks with leading hoteliers for management of operations.
Brigade Enterprises Managing Director Pavitra Shankar said Bengaluru, Chennai, and Hyderabad are key focus markets for Brigade and this strategic expansion in the residential and hospitality sectors are an integral part of the overall growth plan.
“The residential sector is showing sustained growth across the country, with Chennai gaining momentum from the increased presence of IT/ITeS, BFSI, manufacturing, automotive, and GCC companies in the region. We have a land bank of over 12 million square feet of residential projects across Chennai, which will be our second biggest market after Bengaluru,” said Brigade Enterprises Managing Director Pavitra Shankar.
On the hospitality front, Brigade has plans to increase the total room count by another 1200 keys over the next four years.
Brigade Enterprises Joint Managing Director Nirupa Shankar said currently the company has a collective operational room count of around 1500 rooms across five cities.
“The ECR property in Chennai will be our first resort and is part of our plan to increase our total room count by another 1200 keys over the next four years. Our aim is to cater to the discerning need of modern travellers while providing experiences that seamlessly combine luxury, comfort and impeccable service,” said Brigade Enterprises Joint Managing Director Nirupa Shankar
She also said the addition of this resort under the Brigade badge will not only enhance the company’s portfolio but also contribute to the growth and development of the hospitality sector in the region.
Established in 1986, Brigade Enterprises is one of India’s leading property developers with over three decades of expertise in building positive experiences for all their stakeholders and winning their customers’ trust.
Brigade has developed many landmark buildings and transformed skylines across cities – Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.
