Brigade Enterprises to develop third World Trade Center tower in Kochi, stock up 3.5%

Brigade Group said it will develop a 16-storey tower with a car park of six decks. The project has a built-up area of 2.6 lakh square feet and will be developed on a non-SEZ plot of land. The project, which is expected to be completed within three years, will result in the creation of 2,700 direct jobs, it said.

Kerala Chief Minister Pinarayi Vijayan said the project will help in the overall development of the IT sector in the state. He pointed out that 583 new companies have set up their offices in Infopark since 2016 and 70,000 jobs have been generated.

"The coming up of the third tower of WTC will augment the development of not just Infopark, but the entire IT sector in the state,” he said.

MR Jaishankar, executive chairman of Brigade Enterprises, said the group already has two WTC towers completed with a combined built-up area of 7.7 lakh square feet, and the office spaces are completely occupied. “The A and B blocks of WTC, with Grade A specification and LEED Gold certification, house 37 companies and 8,000 employees in total. Brigade is keen to expand in Kerala and we will continue to look for viable land parcels,” he said.

Brigade Group is the license owner of six WTCs in South India including Bengaluru, Chennai, Kochi, Hyderabad, Trivandrum, and Devanahalli. Over the last 38 years, the group has completed around 300 buildings and 90 million square feet across its diverse portfolio.

Shares of the company have risen over 52% since the beginning of the year. The stock has gained nearly 133% in the last one year.