Prestige Group inaugurates developments across three asset classes
The company has nine operational malls across Bengaluru, Chennai, Hyderabad, Mangaluru, Mysuru and Udaipur
Keeping pace with the ever-growing demand for world-class residential, commercial and mixed-use spaces in Bengaluru, the Prestige Group inaugurated three landmark properties in the city today. Prestige Gulmohar, Prestige Technostar and Prestige Falcon City are all set to transform the skyline of India’s technology capital.
Irfan Razack, CMD, Prestige Group, said, “These are good times for the Indian real estate industry. Last year recorded a whopping 75% increase in the housing launches across top Indian cities, while more than five million sq-ft of retail space became operational in key markets. The real estate sector in India, as per industry reports, is expected to reach a market size of $1 trillion by 2030. With SEBI giving its approval for the REIT platform, the investment opportunities for this preferred asset class are bigger than ever.”
“With Prestige Falcon City, we are gearing up to present the largest Forum mall in Bengaluru. Currently, the company has nine operational malls across Bengaluru, Chennai, Hyderabad, Mangaluru, Mysuru and Udaipur, with over 5 mn sq-ft of gross leasable area and close to 2000 stores. Five more Forum malls are currently under construction across Bengaluru, Chennai, Kochi and Kakkanad, covering approximately 8.1 mn sq-ft of retail space. By 2023, we aim to have more than 25 malls covering over 14 mn sq-ft and around 5000 stores,” he added.
About the developments
Prestige Falcon City
Situated on Kanakapura Road and considered among the best developments in South Bengaluru currently, this superlative property of high-rise towers comprises a conglomeration of 2,520 2-, 2.5-, 3- & 4-BHK apartments ranging from 1204-2726 sq-ft. Added to that is a massive retail area and the largest Forum Mall in Bengaluru, all conceptualised by the Prestige Group.
Prestige Technostar is an advanced office space accessibly located on the Brookefield Main Road, incorporating a huge, brilliantly landscaped central open space of 1.8 acres, with water features and common areas. It offers world-class office space of 10,54,655 sq-ft. It is planned as three buildings with separate service cores to offer the flexibility of functioning as a single/multi-tenanted space. In short, everything required for offices that are designed to inspire excellence is incorporated to make working from here a truly enriching experience.
Situated on Horamavu Main Road, Prestige Gulmohar has 404 elegant 2, 2.5 and 3BHK apartments set in five high-rise towers, spread over 3.27 acres. The apartments range from 1169-1763 sq-ft.