Prestige Group Strengthens Retail Presence with New Mall Portfolios
Prestige Group , a leading real estate developer based in Bangalore, is making big moves in the retail sector. The company is building 8 million square feet of retail space in major cities like Delhi, Bangalore, Mumbai, Chennai, and Hyderabad. These malls are expected to open between 2028 and 2029. One of their exciting new projects is Prestige Southern Star on Begur Road in Bangalore, which has already attracted a lot of attention.
Ongoing Mall Projects
In 2025, Prestige Group is focusing on completing malls in Mumbai and Delhi. The mall in Mulund, Mumbai, is planned to be 2 lakh square feet and will feature over 25 restaurants. The Indirapuram mall in Delhi NCR will be 1 million square feet, offering a wide range of shopping and dining options. Both malls are waiting for RERA approvals before they can begin construction.
In 2021, Prestige Group sold 4.4 million square feet of retail space in 7 shopping malls for around ₹9,000 crores. This move showed the confidence investors have in the company. In June 2023, Prestige sold two-thirds of its retail business to Nexus Malls, a company backed by Blackstone, but still owns a 15% share in the business.
Upcoming Mall Projects
Prestige Group has many exciting malls planned for the future. They are working on three new malls in Hyderabad, which will have a mix of shopping, dining, and entertainment options. They also have a 6 lakh square foot mall planned for Goa, focusing on food.
Here are some key upcoming projects:
- Bangalore (Whitefield): A 1 million square foot mall with shopping, dining, and entertainment options.
- Chennai (OMR): A 1 million square foot mall, part of a luxury hotel development.
- North Bangalore: An 8 lakh square foot mall with sportswear, food courts, and gaming areas, set to open in 2027.
- Banjara Hills (Hyderabad): A smaller mall offering a more compact shopping experience.
- Goa: A 6 lakh square foot mall focused on food.
- Mumbai (Mulund): A 2 lakh square foot mall with over 25 restaurants.
- Delhi NCR (Indirapuram): A 1 million square foot mall, awaiting RERA approval.
Integrated Malls for Efficient Use of Space
To make the most of expensive land in prime areas, Prestige Group is creating integrated malls. These malls will be part of larger townships or hotel properties. This allows them to use space more efficiently and maximize the value of the land.
- Land efficiency: Integrated malls make the most of high-demand spaces.
- Vertical developments: Using land more efficiently by building upwards.
With these new malls, Prestige Group is setting new standards for retail in India. Their malls will offer top-notch shopping, dining, and entertainment experiences, making them a key player in India’s growing retail industry.
