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

Infrastructure Urban

07 Jul 2026

IHC and Adani to Invest US$11.5 bn in Odisha Aluminium Project

Abu Dhabi's International Holding Company (IHC) will invest US$11.5 bn in an integrated aluminium project in the eastern Indian state of Odisha in a joint venture with the Adani Group, a state official said. The official said the announcement represented the country's largest foreign investment in mining and metallurgy. Officials said the venture would span both mining and metallurgical activities across several facilities in the state. The project has been described as integrated, encompassing upstream bauxite extraction and downstream smelting and metallurgy, and is intended to develop a com..

Air India and SIAEC to Explore MRO Joint Venture in India

Air India and SIA Engineering Company (SIAEC) have signed a memorandum of understanding (MoU) to explore the formation of a maintenance, repair and overhaul joint venture in India. The MoU, signed on Friday, will examine collaboration to develop India as a global aviation MRO hub and to serve growing needs across the Indian and regional markets. SIA Engineering Company, part of the Singapore Airlines Group which holds a 25.1 per cent stake in Air India, will bring technical expertise alongside Air India's established airline operations network. The partnership builds on existing cooperation be..

Assam and Centre Review Aviation Projects Push Silchar Airport Approval

Assam and the Centre on Thursday, July two reviewed a series of aviation infrastructure projects aimed at strengthening air connectivity across the state, with the proposed greenfield airport at Silchar emerging as a key priority. The review formed part of broader efforts to position Assam as a major aviation and logistics hub for the north east. Officials outlined timelines and preparatory work that they said would guide the next stages of project approvals. The Chief Minister met the Union Civil Aviation Minister at Rajiv Gandhi Bhavan in New Delhi and described the meeting as very productiv..