Brigade Icon will be a mixed-use development, offering a blend of residential, retail, and office spaces, and will set a new benchmark in urban living
BS Reporter Chennai
Leading real estate developer Brigade Group has announced an investment of over Rs 8,000 crore by 2030 in Chennai to expand its business in the city, with a strong pipeline of projects across the spectrum of residential, office, retail, and hospitality for over 15 million square feet.
The company on Wednesday announced the launch of Brigade Icon Residences, part of an exquisite high-end mixed-use development located in the heart of Chennai’s historic Mount Road. The gross development value (GDV) of the residential projects alone is estimated to be over Rs 13,000 crore by 2030.
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In Chennai, Brigade Group has already completed over 5 million square feet across residential, office, hospitality, and retail real estate. Brigade’s flagship project, World Trade Center Chennai in Perungudi, OMR, is over 90 per cent leased and houses marquee tenants. Brigade Group has a pipeline of over 15 million square feet across all the segments, with the residential segment comprising over 12 million square feet. In FY25, Brigade plans to launch over 3 million square feet of residential projects and about 1 million square feet of commercial development in Chennai.
Commenting on the new launches and planned expansion, Pavitra Shankar, managing director, Brigade Enterprises Ltd, said, “We are aware of the significance of Mount Road to the people of Chennai and are very happy to bring Brigade Icon to the city’s most iconic location. Not only is this one of the most important launches for Brigade in Chennai, but it is also the most premium project in our residential portfolio.”
For the company, Chennai will be its second largest market after hometown Bengaluru. “Our aim is to double our growth in the city by expanding all four verticals of residential, commercial, retail, and hospitality. All sectors are witnessing strong demand, and we believe that our contribution to each of these sectors will make a difference not only to the city but also to the lifestyle of people in the city. We have already signed memorandums of understanding (MoUs) with the state government for four projects as part of their Global Investors Meet, approvals for which are in process.”