Page 3 - Prestige Group

Mumbai: A-list realtors queue up to enter one of world's priciest market

Increasing demand for luxe housing, accommodative state policies and decadal-low home loan rates could be some of the triggers

Prestige group's FY21 sales bookings at record Rs 5,461cr despite Covid

This comes on the back of better demand for its properties

Blackstone inks pacts for first phase of over Rs 9,000-crore deal

Realty firm Prestige Estates Projects on Tuesday said it has signed definitive agreements with global investment firm Blackstone to sell 12 assets/undertakings comprising completed office, retail and hotel properties in the first phase of Rs 9,160-crore deal. In November last year, the Bengaluru-based firm had signed term sheet to sell a large portfolio of completed as well as under-construction office, retail and hotel properties to Blackstone for an enterprise value of Rs 9,160 crore. The company will use the fund to retire its debt and future expansion. In a regulatory filing, Prestige Estates Projects informed that the company on Tuesday executed the asset specific agreements or definitive documents with 'BREP Acquirers' (Backstone entities) for sale of twelve assets/undertakings comprising of completed retail, office and hotel assets as Phase I of the proposed transaction. "Upon consummation of the transactions contemplated in the Definitive Documents, further intimation will

Prestige Group partners Awfis to set up 6 co-working centres

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai

Realty firm Prestige Group partners Awfis to set up 6 co-working centres

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai with an investment of about Rs 40 crore.

Prestige Group's Q2 sales booking up 9% at Rs 1,123 cr despite slowdown

Realty firm Prestige Estates Projects' sales bookings rose 9 per cent year-on-year to Rs 1,123.3 crore during September quarter on better demand for its residential properties

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.