Brigade Group Acquires 26 Acres of Whitefield Property to Develop SEZ
Brigade Group is one of the leading real estate developers. They have signed the biggest real estate deal in the history of Bangalore by acquiring 26 acres of land on Whitefield to develop IT SEZ in association with Brooke Bond Real Estate Pvt. Ltd. Brooke Bond Real Estate is subsidiary of Hindustan Unilever Ltd (HUL), a consumer goods conglomerate. However, the company didn’t disclose any detail about the transaction. But the real estate experts added that the average value of land is around Rs. 3500 per sq. ft. and the transaction was fixed around Rs. 390 Cr to Rs. 400 Cr.
The site is located in the promising location of the city and enjoys great connectivity to two major IT hubs, Outer Ring Road and Whitefield. The developer acquired the land through Brigade Properties Pvt. Ltd with GIC Singapore, its joint venture. The acquisition comes from the strategy of GIC and Brigade Group in 2014 for the investment of around Rs. 1500 Cr in developing projects in different cities of Southern India. Founded in the year 1986, Brigade Group is mainly focusing on the real estate development. Currently, they are one of the leading real estate developers in South India.
Brigade Group is headquartered in Bangaluru and they have branches in various major cities in South India. They have an accredited agency in US and a representative office in Dubai. The developer has a unique and diverse portfolio. This multi-domain portfolio includes real estate management, property development, and education and hospitality services. The projects of the developer span over various cities, such as Chikmagalur, Chennai, Kochi, Hyderabad, Mysore and Mangalore. The developer enjoys reputation for quality, innovation and trust. Brigade Group is a name to reckon as the professionally developed company with confident and stable business model.
The company Brigade Group enjoys remarkable annual growth rate and they stand tall even in tight business cycles and market situations, including the post 9/11 period, 1996’s depression and the resent recession period. In the process of ever-changing conditions, the developer Brigade Group has made trust, innovation and reliability as the brand name over all the domains.