Prestige Group inaugurate developments across three asset classes

The Prestige Group has inaugurated three developments under their residential, mixed use and commercial verticals. The properties include Prestige Falcon City – a state-of-the-art integrated township; Prestige Technostar – a world-class commercial development; and Prestige Gulmohar – a high-rise residential development – all in Bengaluru. Prestige Falcon City is situated on Kanakapura Road, and comprises of high-rise towers with a conglomeration of 2,520 world-class apartments ranging from 1204 – 2726 sft, Prestige Technostar on the Brookefield Main Road offers world-class office space of 10,54,655 sft, planned as three buildings with separate service cores and shared amenities including F&B, a gymnasium, crèche, and parking for 1,897 cars. Situated on Horamavu Main Road, Prestige Gulmohar has apartments ranging from 1169 – 1763 sft. set in five high-rise towers, spread over 3.27 acres. Irfan Razack – CMD, Prestige Group, said, "These are good times for the Indian real estate industry. Last year the sector recorded a whopping 75 percent increase in housing launches across top Indian cities, while more than five million sq. ft. of retail space became operational in key markets. As per industry reports, the sector is expected to reach a market size of US$ 1 trillion by 2030. With Prestige Falcon City, we are gearing up to present the largest Forum mall in Bengaluru. Currently, the company has 9 operational malls across Bengaluru, Chennai, Hyderabad, Mangaluru, Mysuru and Udaipur, with over 5 mn sft of gross leasable area and close to 2000 stores. 5 more Forum malls are currently under construction across Bangalore, Chennai, Kochi and Kakkanad, covering approximately 8.1 mn sft of retail space. By 2023, we aim to have more than 25 malls covering over 14 mn sft and around 5000 stores."