In a regulatory filing, the company Prestige Group said that they have acquired 17.45 acres land in Whitefield, Bengaluru worth Rs. 462 crores.
The company said in a statement that a residential property would be developed in the acquired land. This project will span across 2.68 mn sq ft of developable area.
The chairman and managing director of Prestige Group said that they are delighted to expand their existence in Bengaluru with possession of 17.45-acre land parcel which is adjacent to their project Prestige Raintree Park that is newly launched.
With this latest development, Prestige Group is committed to delivering integrated and high-quality urban living experiences catering to the ever-evolving needs of buyers.
He also quoted that this addition is strategic and complements to their existing projects. This inturn strengthens their vision to create spaces that are transformative driving long term value for their communities and stake holders.
The company has varied business model across various segments including office, retail, residential, hospitality, ware houses and project management. Their projects are spread across 13 major locations in India.
Recently, Prestige Estates are also ready to invest around Rs. 7000 Cr to commence the development of a township project in Ghaziabad, Delhi NCR.
