Page 3 - Prestige Group

Prestige, Brigade group partner to build mall, hotel project in Bengaluru

Prestige Estates Projects Ltd has partnered with Brigade group to jointly develop a commercial project, comprising a shopping mall and a hotel, in Bengaluru

Realty firms may raise over $25 bn in 3 years via REITs: Anarock report

Real estate developers may raise more than USD 25 billion over the next three years by listing their rent-yielding commercial properties through the Real Estate Investment Trusts (REITs) route, according to realty consultant Anarock. Earlier this year, global investment firm Blackstone and realty firm Embassy group launched India's first REIT to raise Rs 4,750 crore. Their joint venture firm Embassy Office Parks listed its rental assets on the exchanges. "Commercial REITs may raise over USD 25 billion for Indian real estate over the next three years. This involves the listing of more than 150 million sq ft of rent-yielding Grade A office properties across top seven cities - covering 25-30 per cent of the overall Grade A office space in these cities," said Shobhit Agarwal, MD & CEO Anarock Capital. Currently, the top seven cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Pune -- have close to 550 million sq ft Grade A office supply - of which 310-320 million

Prestige Estates to acquire 80% stake in Sterling Urban for Rs 3.36 billion

Sterling Urban Infraprojects owns around 59 acres of land at outer ring road-Sarjapour, Bengaluru

Prestige buys CapitaLand stakes for Rs 3.42 bn

The Singapore-based CapitaLand had entered into agreement with the Prestige group in 2008 to invest in its malls

Prestige takes full control of group firm, buys Rs 324-cr stake

The company already has 33.34 per cent stake in Prestige Projects Pvt Ltd, which has 180 acres of land in Bengaluru.