Concorde to invest Rs 225 cr to build 2 mn sq ft commercial real estate

Realty firm Concorde will invest Rs 225 crore to develop commercial projects.

The company announced expansion of its commercial segment with a strategic investment of Rs 225 crore.

Concorde will launch over 2 million square feet of commercial space over the next two years.

Out of the Rs 225 crore, the company has allocated Rs 100 crore for this fiscal.

Concorde's expansion of its commercial sector includes the development of Grade A commercial spaces, the first of which Concorde Econex was launched in February 2023, and another three projects in the pipeline, the statement said.

"We will focus on establishing Grade A office space in the micro markets of the city. Currently, we have three projects in the pipeline for this year. The demand for sustainable workspaces has grown significantly post-pandemic, and we aim to provide top-notch commercial properties that redefine the way people work," said Grishma Reddy, Director, Concorde.

Over the last two-and-a-half decade, Concorde has developed 25 million square feet of residential and commercial real estate.