Prestige Estates & Valor Group Forge ₹4,500 Cr JV for Mumbai Office Complex

Prestige Estates Projects Ltd has entered into a joint venture with Valor Group to develop a ₹4,500 crore commercial office complex in Andheri West, Mumbai. The partnership, structured under a 50:50 joint venture, will create a 1.5 million sq. ft. leasable area, reinforcing Prestige Estates’ expansion in India’s premium real estate sector.

 

The agreement includes the formation of a Special Purpose Vehicle (SPV), with Prestige Estates committing ₹504 crore towards the project. The development aims to cater to high-end corporate tenants, aligning with Mumbai’s growing demand for Grade-A office spaces.

 

Industry experts view this collaboration as a strategic move to strengthen Prestige Estates’ presence in Mumbai’s commercial real estate market, leveraging Valor Group’s expertise in large-scale developments.

 

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Source: Economic Times | ET Now | Realty Economic Times