Prestige Group plans Rs 3,500 cr investment for office space in Mumbai

09 Aug 2021 CW Team

Prestige Group, a real estate developer, intends to invest over Rs 3,500 crore in the Bandra-Kurla Complex (BKC) and Turf View at Mahalakshmi in south Mumbai to develop around 7 million sq ft of commercial space.

The new commercial development will be the country's tallest office building, with a ground plus 63-storey and 43 storey prestige Liberty Tower. The proposed 2.5 million sq ft property will include 400,000 sq ft of amenities, a business club, and a viewing gallery on the top floor, and is expected to be completed by 2025.

Juggy Marwaha, CEO, Prestige Office Ventures told the media that both projects have secured construction financing, and we are seeing strong demand for some large requirements.

The proposed investment is one of the most significant in recent years for commercial real estate development in Mumbai.

Marwaha told the media that the properties are already attracting tenants from the banking, financial services, and insurance (BFSI) industries, as well as information technology and IT-enabled services, as well as startups.

Prestige Estates Projects became a new partner in Turf Estate Joint Venture (JV) LLP on 24 March 2020, through its subsidiary Prestige Falcon Realty Ventures, with an equal share of losses and profits as DB Realty, subject to the conditions and terms outlined in the supplemental agreement dated March 24.

According to Marwaha, the pandemic has caused a shift in customer demand, and as a result, the company has planned both commercial and non-commercial projects that focus on technology, health, and safety issues that have a positive social, environmental, and economic impact.

The plan is to rebuild, reinvest, and redesign as the pandemic's demand shifts. Future offices will be very different, with a strong emphasis on demand and safety.

Image Source

Also read: RBI seeks additional office space near head office in south Mumbai

Real Estate

04 Aug 2026

LML Realty Launches Cinema Campaign on Industrial Vision

LML Realty has launched a cinema advertising campaign in partnership with PVR INOX across 81 screens in Gurugram and Faridabad, showcasing the brand’s transformation from a mobility icon to an industrial infrastructure developer.The campaign features a cinematic brand film tracing LML’s journey since 1972, beginning with its iconic scooters and highlighting its evolution into creating infrastructure solutions that support India’s manufacturing growth.The film focuses on LML Industrial Park at Jhirka Valley, the company’s flagship industrial development approved under the Haryana Govern..

IIM Ahmedabad Publishes Case Study on HoABL’s Business Model

The Indian Institute of Management Ahmedabad (IIMA) has published a case study on The House of Abhinandan Lodha (HoABL), examining the company’s digital-first consumer journey and business model that created India’s branded land category.Titled “HoABL: Ready for Scaling Up”, the case study has been published by the IIMA Case Centre and co-authored by Sourav Borah, Associate Professor of Marketing at IIMA, and Dr Aparna Kansal of IMT Ghaziabad. IIMA case studies are used across management and executive education programmes to help students and business leaders analyse strategic decision..

Advait Energy and MEIL Partner for Energy Transition Projects

Advait Energy Transitions Limited (AETL) and Manipal Energy Infratech Limited (MEIL), a company of The Manipal Group, have entered into a strategic Memorandum of Understanding (MoU) to collaborate on power and energy transition opportunities across India and international markets.The partnership aims to combine AETL’s expertise in innovative energy technologies and manufacturing with MEIL’s EPC execution capabilities and project management experience. The collaboration will focus on opportunities across Power Transmission & Distribution, Renewable Energy, Battery Energy Storage Systems..