Bri­gade Group to invest Rs 500 crore in Gu­jarat’s GIFT City

Accommodation Times - - Front Page - By Staff Re­porter

Bri­gade Group lead­ing realty firm of Ban­ga­lore has an­nounced that it will invest Rs. 500 crore in Gu­jarat In­ter­na­tional Fi­nance Tec-City (GIFT City), In­dia’s first In­ter­na­tional Fi­nan­cial Ser­vices Cen­tre (IFSC) over next few years. An al­lot­ment of 1.1 mn. sq ft of BUA (built up area) has been made to Bri­gade Group for de­vel­op­ment of Com­mer­cial, Res­i­den­tial, Re­tail Mall and Ho­tel projects in SEZ & non- SEZ Area in GIFT City. They have al­ready sub­mit­ted their in­ter­est for tak­ing ad­di­tional 1.7 mn. sq. ft. of BUA to be de­vel­oped at an es­ti­mated in­vest­ment of Rs. 600 crore, show­ing their in­ten­tion to take a long po­si­tion in de­vel­op­ment of In­dia’s first Global Fi­nan­cial Hub at GIFT City. Gu­jarat’s fi­nance min­is­ter Sau­rab­hb­hai Pa­tel dur­ing the road show of Vi­brant Gu­jarat 2015 in Ban­ga­lore said, “We are happy that Bri­gade En­ter­prises Ltd., Ban­ga­lore for the first time par­tic­i­pated in Gu­jarat, and has taken up large de­vel­op­ment in GIFT City, Gu­jarat to pro­vide fa­cil­i­ties like of­fices for Fi­nan­cial-Ser­vices & IT, Res­i­den­tial, Re­tail Mall & Ho­tels with an es­ti­mated in­vest­ment of around Rs. 500 crores.” Bri­gade Group has sig­nif­i­cant pres­ence in south­ern In­dia, in­clud­ing ci­ties like Ban­ga­lore, Chen­nai, Hy­der­abad, Kochi etc. and is known for their high stan­dards and qual­ity of de­vel­op­ment across var­i­ous fa­cil­i­ties. Ra­makant Jha, MD & Group CEO, GIFT Company Ltd said, “The in­vest­ment on such a large scale by south-In­dia based group is a tes­ti­mony of the op­por­tu­ni­ties that this project of­fers. Bri­gade Group’s rep­u­ta­tion of de­vel­op­ing Grade ‘A’ prop­er­ties and ex­pe­ri­ence across all real es­tate do­mains would pro­vide syn­er­gies with the world-class ser­vices and in­fra­struc­ture that GIFT City would of­fer.” Speak­ing on the de­vel­op­ment, M.R. Jais­hankar, CMD, Bri­gade Group said, “We are pleased to be co-de­vel­op­ers in GIFT City which we con­sider as a real Smart City in the coun­try. The de­vel­op­ment cov­er­ing more than 800 acres is beau­ti­fully planned with world class in­fra­struc­ture which we be­lieve will set a bench­mark in real es­tate de­vel­op­ment in the coun­try.”

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