Real estate company Brigade Enterprises and Bain Capital have announced a tie-up for a new project in Bengaluru. Brigade Enterprises, in a statement, said it, along with Bain Capital, will develop a mixed-use property in Bengaluru.

Brigade Enterprises and Bain Capital will jointly invest a whopping Rs 2,200 crore for the new project.

“Inked a strategic partnership with Bain Capital to develop a premium mixed-use project in Whitefield, Bengaluru. The project will be developed through a 50:50 joint venture between the two partners with a total project investment of approximately Rs 2,200 crore," Brigade Enterprises said in a filing.

The upcoming mixed-use project in Whitefield will be spread over an area of approximately 11 acres.

Both Brigade Enterprises and Bain Capital will develop around 2 million sq ft comprising Grade A office space and a five-star hotel to be operated by a leading international hotel brand.

Nirupa Shankar, Joint Managing Director, Brigade Group, said that the partnership underscores the growing institutional appetite for high-quality Indian commercial and hospitality real estate.

"We are constantly on the lookout for opportunities to strengthen the Brigade footprint in key markets that we operate in. This resultant partnership demonstrates our strategic focus to aggressively expand our portfolio through institutional collaborations," Nirupa Shankar said.

Established in 1986, Brigade Group is one of the leading real estate developers in the country. It has developed many projects in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, and GIFT City.

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