Prestige Estates and Valor Group Collaborate on ₹4,500 Crore Office Complex in Mumbai
Real estate giants Prestige Estates and Valor Group have announced a joint venture to develop a massive office complex in Mumbai, valued at Rs 4,500 crore.
Real EstateMumbaiOffice ComplexPrestige EstatesValor GroupReal EstateMay 30, 2025
The project is set to be developed on a land admeasuring 21,978.22 square meters in Andheri West, Mumbai. Both Prestige Estates and Valor Group will have a 50 per cent economic interest in the project, ensuring a balanced and collaborative effort.
In a regulatory filing, Prestige Estates stated that the company will infuse Rs 504 crore into the Special Purpose Vehicle (SPV) established for this project. This investment underscores the company's commitment to delivering high-quality commercial spaces that meet the growing demand in Mumbai's bustling business district.
The project is expected to contribute significantly to the real estate sector in Mumbai, which has been a key driver of economic growth in the region. With a Gross Development Value (GDV) of about Rs 4,500 crore, the office complex is poised to become a landmark development in the city.
Prestige Estates, headquartered in Bengaluru, is one of the leading real estate developers in the country. The company has a strong track record of delivering premium residential and commercial projects across various cities in India. This partnership with Valor Group marks another significant milestone in Prestige Estates' journey of creating world-class developments.
The project's strategic location in Andheri West, a rapidly developing area in Mumbai, is expected to attract a diverse range of corporate tenants. The area is well-connected to major business hubs and enjoys excellent infrastructure, making it an attractive destination for companies looking to establish their presence in the city.
The development of this office complex is not only a testament to the robust real estate market in Mumbai but also highlights the increasing confidence of investors in the Indian economy. With an 18 per cent share in national employment, the real estate sector is one of the largest employment generators in the country, second only to agriculture.
The collaboration between Prestige Estates and Valor Group is expected to set new benchmarks in commercial real estate development in Mumbai. The project is anticipated to create numerous job opportunities and contribute to the economic development of the region.
As the project progresses, both companies will focus on sustainable and eco-friendly practices, aligning with the growing emphasis on green building standards in the real estate industry. This commitment to sustainability is expected to enhance the appeal of the office complex to environmentally conscious tenants.
In conclusion, the joint venture between Prestige Estates and Valor Group to develop the ₹4,500 crore office complex in Mumbai is a significant step forward in the city's real estate landscape. The project's scale and strategic location make it a promising addition to Mumbai's skyline, and it is expected to play a crucial role in the city's continued economic growth.
Frequently Asked Questions
What is the total value of the project?
The project is valued at Rs 4,500 crore.
Where is the project located?
The project is located in Andheri West, Mumbai.
What is the total leasable area of the office complex?
The total leasable area of the office complex is 1.5 million square feet.
What is the economic interest of each company in the project?
Both Prestige Estates and Valor Group have a 50 per cent economic interest in the project.
How much will Prestige Estates invest in the SPV?
Prestige Estates will invest Rs 504 crore into the Special Purpose Vehicle (SPV) established for this project.
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