Brigade Group to invest about Rs 4 500 cr in Hyderabad to build 10-acre housing commercial proj

Hyderabad, Jan 8 (PTI) Realty firm Brigade Enterprises Ltd will invest around Rs 4,500 crore to develop an integrated 10-acre housing and commercial project in Hyderabad to expand the business to encash strong demand for luxury homes and premium office-retail spaces.
    Bengaluru-based Brigade Enterprises launched its new mixed-use project 'Brigade Gateway' on Wednesday at Neopolis Kokapet, Hyderabad.
    "We will develop a 45 lakh square feet mixed-use project in Hyderabad, of which around 25 lakh square feet will be luxury homes," the company's Executive Director Amar Mysore told PTI.
    Asked about project cost, he said the total investment in land and construction will be around Rs 4,500 crore.
    The investments will be met through equity, collections from customers against sales and construction finance.
    Elaborating on the project, Mysore said the company will build 600 flats in this project. Initially, it plans to sell half of it in a price range of Rs 4 crore to Rs 12 crore each.
    The company will also develop a 20 lakh square feet commercial tower, comprising 6 lakh sq ft of Mall, 10 lakh sq ft of office space and 300 keys Intercontinental Hotel, he added.
    The office space will be under the 'World Trade Center' brand.
    The residential towers will be one of the tallest buildings in Hyderabad at 212-metre height.
    The commercial tower is poised to become an iconic addition to the city skyline, Mysore noted.
    This will be the fourth World Trade Center developed by Brigade Group among the six licenses it holds, offering flexible office spaces with the largest floor space at about 4,000 square metres.
    "Brigade's vision has always been to create transformative developments that not only redefine urban landscapes but also enhance the quality of life for residents and businesses," he said.
    Vineet Verma, Director of Brigade Hospitality, said the company will not sell the commercial spaces but provide them on rent to corporates.
    Established in 1986, Brigade Group is one of India's leading real estate developers.
    The company has developed many projects in Bengaluru, Mysuru, Hyderabad, Chennai, Kochi and GIFT City.

(This story has not been edited by THE WEEK and is auto-generated from PTI)