Brigade Group Expands into Industrial Real Estate with 25-Acre Park in Bengaluru
Realty firm Brigade Enterprises Ltd will develop a 25-acre industrial park in Bengaluru to meet the rising demand in the industrial sector.
In a regulatory filing, Bengaluru-based Brigade Group announced its foray into industrial real estate with the launch of 'Brigade Industrial Park', a 25-acre industrial development in Devanahalli, North Bengaluru. The park will offer around 2 million square feet of leasable space and will cater to the high-growth industrial sectors of the region, including aerospace and defense, IT/ITES, and data centers.
The company did not disclose the investment required to build this park. However, this move underscores Brigade Group's strategic expansion into new areas of real estate to capitalize on the growing demand for industrial spaces in the region.
In a separate filing, Brigade Group mentioned that its group company BuzzWorks, which provides managed office space, has leased 550 seats in Hyderabad to Dublin-based MyComplianceOffice (MCO), a global regulatory technology (RegTech) and compliance technology company. With this signing, BuzzWorks' total leased office space in Hyderabad currently stands at 1.1 lakh sq ft.
Established in 1986, Brigade Group is one of the leading property developers in the country. It has a rich history of developing projects in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, and GIFT City. The company specializes in residential, commercial (office and retail), and hospitality projects. This new venture into industrial real estate is a significant step forward, aligning with the group's commitment to diversification and growth in the real estate sector.
The development of the industrial park is expected to boost the local economy by creating new job opportunities and attracting more businesses to the region. It also aligns with the government's initiatives to promote industrial growth and infrastructure development in key cities like Bengaluru.
