by THO
Bengaluru-based real estate major Brigade Group has launched a residential tower ‘Cobalt’ at its 50-acre township, Brigade El Dorado, located in the city’s KIADB Aerospace Park. The company expects a revenue of over ₹400 crore from the 6.1 million square feet project, it said in a regulatory filing.
The development is situated 15 minutes away from the Kempegowda International Airport and several other commercial establishments, IT Parks, and the upcoming airport metro in its vicinity, the company said in a statement.
The residential tower will comprise 948 one-bedroom apartments and is expected to be completed in the second quarter of financial year 2028-29. Residents will enjoy 80 amenities, including a hospital, a central park, a multiplex, sports and retail facilities, the company said.
“In the recent past, there has been a surge in the number of multinational companies that have chosen to set up shop in North Bengaluru, creating a demand for skilled talent. This in turn has fuelled the growth and demand for high quality, sustainable real estate in the region,” said Amar Mysore, Executive Director, Brigade Enterprises Limited.
Also Read: Brigade Group to develop 8-acre housing project worth ₹1,100 crore in Bengaluru
Potential home buyers in the region are primarily millennials, who aren’t just looking for houses, but rather accommodations that mirror their accomplishments and match their aspirations, he added.
Other projects in the offing
The announcement comes after the company said earlier this month that it plans to develop an 8-acre residential project in West Bengaluru with a revenue potential of ₹1,100 crore.
Also Read: Brigade Group launches project in North Bengaluru with a revenue potential of ₹1100 crore
Late last month, the company also announced the launch of Brigade Insignia, a premium residential project in North Bengaluru with a revenue potential of ₹1,100 crore.
Prior to that, the company had said that it has plans to launch close to 15 mn sq ft of residential, office, retail and hospitality space in Chennai for which it will invest close to over ₹8,000 crore.
Also Read: Why are real estate developers making a beeline for Mumbai and Bengaluru markets?
Brigade Group has a presence in the residential, commercial, retail, hospitality and education sectors. The company has completed 275-plus buildings comprising over 80 million sq ft of developed space across multiple cities in South India.
