Real estate developer Concorde, which is celebrating its 25th anniversary this year, has announced its ambitious plan to expand its residential portfolio with an investment of approximately Rs 1200 crore rupees in the next three years. The company is geared up to launch 3.5 million square feet of premium and luxury residential spaces, with the new projects set to commence in the third quarter of this financial year.
The primary geographic focus will remain on North and East Bangalore, as these regions boast of high demand, abundant opportunities, and remarkable absorption rates, making them ideal for development.
With six residential projects in the pipeline, Concorde is determined to achieve annual sales of approximately Rs 500 crores during this period of rapid growth. The forthcoming launches will primarily cater to the premium and luxury segment, providing a diverse range of apartments, villas, and villa plots to meet the discerning preferences of its clientele.
“We will launch a total of 16 lakh square feet across three projects this year and are actively exploring upcoming areas in Bengaluru like Malur, Whitefield, Sarjapur, Yelahanka, Vidhyaranyapura etc. We are dedicated to incorporating smart features into all our homes, with a prime focus on building vibrant communities and neighbourhoods. We are confident that our customer-centric design, innovation, and quality construction will redefine luxury living in Bangalore, creating significant value for both customers and stakeholders,” said Nesara BS, chairman of Concorde.
Concorde currently possesses an extensive land bank spanning over 120 acres, where term sheets have already been signed for the development of apartments and plots. The company is committed to ensuring timely delivery and maximising the efficient use of spaces, aiming to maintain 60% to 90% of open spaces at any given time, fostering an environment of openness and green living.
Despite already having a strong presence in South Bangalore, the company remains committed to further growth in that region. Simultaneously a strategic decision based on the suitability of its product mix for these markets.
