Concorde, a Bengaluru-based real estate developer announced its expansion of its commercial segment with a strategic investment of INR 225 crores. Concorde will launch over 2 million sq ft of commercial space over the next two years. Out of the INR 225 cr, the company has allocated INR 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 a further three projects in the pipeline. With this expansion, Concorde plans to increase its commercial business to over 30% of its overall portfolio. The company's strategic vision is to cater to the evolving needs of businesses and professionals, offering them modern and sustainable work environments that inspire innovation and collaboration.
"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 Mrs. Grishma Reddy, Director, Concorde.
Concorde Econex, is a state-of-the-art workspace of the future, spanning an impressive 1.35 lakh sq. ft. Designed to meet the highest standards, Concorde Econex exemplifies the company's commitment to delivering exceptional commercial spaces. Concorde is leveraging its expertise in creating boutique workspaces to venture into the commercial real estate sector. With Bengaluru's thriving market for commercial leasing, Concorde is poised to capitalize on the tremendous potential in this segment.
Concorde's investment in expanding its commercial portfolio reflects the company's dedication to meeting the evolving demands of the market and contributing to the growth of Bengaluru's commercial real estate sector.