Brigade Enterprises, a popular real estate developer based in Bengaluru has announced its plans to ramp up its office rental business by 25 percent in the next two years. Brigade Enterprises’ Executive Director, Pavitra Shankar, has stated that, even though many companies have opted for the work-from-home model, they still want to maintain office space. Furthermore, she added that it is difficult to follow the WFH model in India compared to other countries like the US because our connectivity and infrastructure are not up to the mark. The real estate developer is very optimistic and confident that a significant amount of people will return to work from the office.
The new plans will be completed in two to three years as most of the decision-makers are overseas, and they are finding it difficult to travel abroad to have a look at locations in India and decide. The market cap of Brigade Enterprises is 6,000 crore, and it is a much-diversified builder with verticals in office, residential, hospitality, and retail. The company has so far built three World Trade centers in cities like Chennai, Bangalore, and Kochi, with plans to build the same in Hyderabad and Thiruvananthapuram. In the Q1 of 2021, the company has also witnessed a sharp rise in the residential real estate segment.
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