Bangalore-based real estate developer Brigade Enterprises, is planning to raise Rs 600 crore through the PE (Private Equity) route for hospitality and residential projects. The Stock market listed company plans to raise Rs 300 crore each for hospitality and affordable homes projects.
Mr. M R Jaishankar, Chairman, Brigade Group "We are in discussion with a few PE players to raise money for 4 hospitality projects spread across cities of Chennai, Mysore and Kerala. "Another Rs 300 crore is being raised for the 120-acre integrated residential project in Devanahalli to be developed near the international airport in Bangalore.
Brigade Enterprises is building a hotel for Holiday Inn in Chennai and two hotels in Mysore - one on Sayyajirao Road - and the other on KRS Road, and a holiday resort in Vaikom near Kochi in Kerala.
As for the integrated residential project in Devanahalli, the company has gone in for joint venture with the Bangalore-based Classic Wallmark Group. The integrated project will have 2,500 units with a mix of villas, high income, affordable homes, school and a recreational club.
Brigade Enterprises has prepared a plan to execute two projects having about 70 lakh sq ft of development under affordable homes category in the next 3 years.
Mr. M R Jaishankar, Chairman, Brigade Group "We are in discussion with a few PE players to raise money for 4 hospitality projects spread across cities of Chennai, Mysore and Kerala. "Another Rs 300 crore is being raised for the 120-acre integrated residential project in Devanahalli to be developed near the international airport in Bangalore.
Brigade Enterprises is building a hotel for Holiday Inn in Chennai and two hotels in Mysore - one on Sayyajirao Road - and the other on KRS Road, and a holiday resort in Vaikom near Kochi in Kerala.
As for the integrated residential project in Devanahalli, the company has gone in for joint venture with the Bangalore-based Classic Wallmark Group. The integrated project will have 2,500 units with a mix of villas, high income, affordable homes, school and a recreational club.
Brigade Enterprises has prepared a plan to execute two projects having about 70 lakh sq ft of development under affordable homes category in the next 3 years.
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