Brigade Group, Bain Capital to build commercial project in Bengaluru at Rs 2,200 cr investment

Realty firm Brigade Enterprises has tied up with Bain Capital to jointly develop a mixed-use project in Bengaluru at a cost of Rs 2,200 crore. In a regulatory filing on Wednesday, the company said that it has inked a strategic partnership with Bain Capital to develop a premium mixed-use project in Whitefield, Bengaluru.

Realty firm Brigade Enterprises has tied up with Bain Capital to jointly develop a mixed-use project in Bengaluru at a cost of Rs 2,200 crore. In a regulatory filing on Wednesday, the company said that it has inked a strategic partnership with Bain Capital to develop a premium mixed-use project in Whitefield, Bengaluru. ''The project will be developed through a 50:50 joint venture between the two partners with a total project investment of approximately Rs 2,200 crore,'' the filing said. The project will cover approximately 11-acre land parcel. The two partners will develop around 2 million sq ft comprising Grade A office space and a five-star hotel to be operated by a leading international hotel brand. Nirupa Shankar, Joint Managing Director, Brigade Group, said, ''This collaboration underscores the growing institutional appetite for high-quality Indian commercial and hospitality real estate and represents a significant investment by Bain Capital into the Indian real estate sector''. ''We are constantly on the lookout for opportunities to strengthen the Brigade footprint in key markets that we operate in. This resultant partnership demonstrates our strategic focus to aggressively expand our portfolio through institutional collaborations,'' she added. Established in 1986, Brigade Group is one of the leading real estate developers in the country. It has developed many projects in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, and GIFT City.