Financial Daily from THE HINDU group of publications
Saturday, Mar 04, 2006
Financial Daily from THE HINDU group of publications Saturday, Mar 04, 2006 |
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Industry & Economy
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Real Estate & Construction States - Karnataka Brigade Group announces Rs 3,000-cr investment Our Bureau
Inside story `Lifestyle enclave' to have 30-storied office complex space in about one million sq ft. A 152-bed hospital to be run by Columbia Asia is slated to come up.
Bangalore , March 3 Brigade Group has announced a Rs 3,000-crore investment during the year to develop 12 real estate projects in Bangalore and Mysore, including a `lifestyle enclave' consisting of an apartment complex supported by essential infrastructure like a super-speciality hospital, retail mall, multiplex and educational institution. The proposed Rs 1,500-crore lifestyle enclave coming up in north Bangalore is expected to be in place in three years.
`Standard-setting'
The project claimed by Brigade Group as `standard-setting' for the city and the country in real estate industry, already has leading brands in healthcare and entertainment. Brigade was in talks with a leading hotel chain for a five-star property to provide a comprehensive range of facilities in the `Brigade Gateway' project, said Mr Jaishankar. Brigade would also be launching other projects soon, which included a large mixed-use residential-cum commercial complex, IT parks and exclusive apartment complexes, he told presspersons here on Friday.
Lifestyle enclave
A 30-storied office complex space in about one million sq ft of area in the lifestyle enclave would be interspersed with a 152-bed hospital to be run by Columbia Asia and retail shopping mall with an 11-screen multiplex to be set up by the PVR Group. Mr Jaishankar said the project would be funded from internal accruals and debt, while Brigade was also looking at FDI as a source. The service providers like Columbia Asia, PVR and the proposed hotel would be anchor tenants along with vanilla brand stores. Designed by the New York-based H O K Brigade Gateway, the enclave to be built on a 40-acre land in Malleswaram-Rajajinagar area in the city, would have 1,260 apartments and a two-acre man-made lake, said Mr Jaishankar.
More Stories on : Real Estate & Construction | Karnataka
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