Brigade Enterprises Ltd, a prominent real estate developer, has unveiled ambitious expansion strategies in Chennai by entering into a joint development agreement with PVP Ventures Ltd for a residential project in the city.
Additionally, the Bengaluru-based company disclosed plans for constructing a 250-room resort, marking its debut in Chennai’s hospitality sector along the East Coast Road. Talks are underway with potential hoteliers for the resort’s management. Brigade’s Managing Director, Pavitra Shankar, emphasized the significance of Bengaluru, Chennai, and Hyderabad as key markets, underscoring that the expansion aligns with the company’s overarching growth strategy.
The collaboration with PVP Ventures Ltd entails the development of a sprawling 2.5 million sq ft high-rise residential project spread across 16 acres in Perambur, north Chennai. Pavitra Shankar highlighted Chennai’s burgeoning residential sector, attributing the momentum to the city’s thriving IT/ITES and automotive manufacturing industries. With a substantial land bank exceeding 12 million square feet dedicated to residential projects in Chennai, the city is poised to become Brigade’s second-largest market after Bengaluru.
Nirupa Shankar, Joint Managing Director of Brigade Enterprises Ltd, outlined plans for the ECR property, slated to be the company’s inaugural resort. This endeavor is part of a broader initiative to increase the total room count by an additional 1,200 keys within the next four years. Describing the forthcoming resort as a valuable addition to Brigade’s portfolio, Nirupa Shankar emphasized its potential to catalyze growth and development within the regional hospitality sector.
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