Concorde to invest Rs 225 cr in Commercial Portfolio, to launch 2 mn sqft+ workspace

Bengaluru, June 23, 2023: Concorde, a Bengaluru-based real estate developer announced its expansion of its commercial segment with a strategic investment of Rs 225 crores. A press release issued by the company says that, the company will launch over 2 million sq ft of commercial space over the next two years. Out of the Rs 225 cr, the company has allocated Rs 100 cr for this fiscal. This investment aims to meet the rising demand for sustainable workspaces in Bengaluru post the pandemic era. Concorde’s expansion of its commercial sector includes the development of Grade A commercial spaces with biophilic design, the first of which, Concorde Econex, which was launched in February 2023, with three more projects in the pipeline. With this expansion, Concorde plans to increase its commercial business to over 30% of its overall portfolio. 

“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. Our commitment to creating biophilic spaces aligns with the emerging trends in work-life balance and well-being. One of the unique selling propositions of Concorde Econex and future projects is the integration of biophilic spaces that prioritize the well-being and connection with nature within the work environment. By incorporating elements of nature and natural light, Concorde aims to create vibrant and revitalizing workspaces that enhance productivity and foster a sense of well-being,” said Grishma Reddy, Director, Concorde.