Brigade Enterprises plans major construction project for Chennai, including malls

Real estate business Brigade Enterprises plans to undertake a major construction project in Chennai which will include shopping malls with a total investment of Rs 8,000 crore by the year 2030.

“The company has planned 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,” announced Brigade Enterprises in a regulatory filing, accessed by the Press Trust of India.

The gross development value of the residential project portion of the project is valued at more than Rs 13,000 crore. The ‘Brigade Icon Residences’ will be located on Mount Road in Chennai as part of a mixed use development. Brigade Enterprises has already worked on numerous construction projects in Chennai including the World Trade Center Chennai, which is currently more than 90% leased.
 
The 2025 financial year will see Brigade Enterprises launch more than one million square feet of commercial developments in the city. “Chennai will be the second largest market after our hometown Bengaluru,” said Brigade Enterprises’ managing director Pavitra Shankar, India Retailing reported. “Our aim is to double our growth in the city by expanding all four verticals of residential, commercial, retail and hospitality.”