Prestige Group plans to make an investment of over Rs 7,500 crore to develop properties spread over a total 16 million sq ft over the next four to five years.  

 

The investment will be deployed across six projects and will comprise of residential, office and hospitality developments in key locations including Marine Lines and Mahalaxmi, Worli, Bandra, Bandra-Kurla Complex (BKC) and Mulund. 

 

The developer has started commercial and residential projects in Mahalaxmi, Bandra’s Pali Hill, BKC, Yogi Hills of Mulund. 

 

It has already infused approximately Rs 3,000 crore in acquisition of projects and alliances formed in Mumbai. 

 

Of the total proposed developments, two projects spread over 6.5 million sq ft will be office space developments in Mahalaxmi and BKC, which will also house a five-star W Hotel. 

 

Of its ongoing developments in Mumbai, the developer’s project in Mahalaxmi is spread over two acre that will offer 233 supersized premium apartments. 

 

The project in Mulund suburb will be a 30 acre development housing premium residential, commercial and high street retail spaces along with a proposed school and hospital. 

 

Of the total six projects in Mumbai, the company has acquired two land parcels of 30 acre in Mulund and two acre in Mahalaxmi on outright basis. 

 

The company has infused over Rs 800 crore for these land acquisitions. It has also entered into two alliances with DB Realty and ABIL, while the project in Pali Hill is a society redevelopment plan.