Brigade group plans to increase presence in commercial and retail sector

Brigade Group which is a leading realty firm has begun construction of commercial and retail projects in a bid to increase its exposure in these sectors. The company is also planning to launch a few more projects in the coming months. Mr. Viswa Prathap Desu, the vice-president (sales) of the group said while talking to Business Line said that even though 60% of the company’s development is through residential projects its exposure in commercial and retail projects are also on the upswing.

Mr. Desu said that as residential projects are sold out after completion development of other segments help create assets for future capitalization. These segments he said could go up further if the company goes forward with its projects. A 2.2-lakh-sq.ft retail and small offices project near Peenya named ‘Brigade Rubix’will be launched soon by the group. The costing for the project will be about Rs 60 crore. The project will have ‘modular’ offices with areas ranging from 1,300 to 15,000 sq ft. The group is also planning to launch another small office project in Whitefield named ‘Brigade IRV Centre’. Mr. Desu said that Whitefield has a market for small offices. He said that over 2.5 lakh sq ft space has already been leased out by the group in World Trade Centre development.