Top real estate company Prestige Group will develop a megascale integrated project within Bengaluru Airport City, including a 8,000-seater convention and exhibition centre, a performing arts hub, two luxury hotels, as well as premium office and retail space.
The 1.5 million sq ft hospitality-led Prestige Centre project on 14.2 acres of land will be ready by 2030. It will have Marriott Marquis and St. Regis-branded hotels, besides around 350,000 sq ft of office space. Prestige will invest around ₹1,800 crore in the project.
For this project, Prestige Group has partnered with Bengaluru Airport City Ltd (BACL), which is responsible for commercial development of the area around Kempegowda International Airport in the city. Of the 400 acres earmarked for Bengaluru Airport City, 110 acres have been fully developed so far. This year, a 775-key hotel and 2 million sq ft of office space are going to open in the Airport City.
The Prestige Centre project in Bengaluru follows the company’s ongoing development at Delhi Aerocity. It is currently in the last leg of building two hotels – Marriott Marquis and St Regis hotel – an 8,000-seater convention and exhibition venue and office space at Delhi Aerocity.
“This development reflects our vision of creating destination-defining assets by integrating hospitality, business, culture and lifestyle experiences within a single ecosystem. These projects will set new benchmarks for mixed-use development in India,” Irfan Razack, chairman and managing director of Prestige Group, said at a press conference in Bengaluru.
As Prestige ramps up its portfolio across cities, it is also diversifying by creating differentiated product categories beyond the usual residential, office and shopping mall segments.
Prashant Thakur, executive director & head of research and advisory, Anarock Property Consultants, said that large developers such as Prestige Group are creating destination developments that are self-sustaining projects.
Prestige clocked its highest annual pre-sales of ₹30,024 crore in 2025-26, up 76%, on account of sustained momentum throughout the year.
Hospitality IPO plan
The company’s under-construction and upcoming large mixed-use development projects are anchored by strong hospitality brands. Prestige, which currently operates 1,500 keys across 7 hotel properties, wants to reach 5,500 keys by 2031.
Last year, Prestige Hospitality Ventures Ltd planned to launch its initial public offering (IPO) to raise over ₹2,000 crore, joining a league of hotel chains tapping the public markets amid a travel boom. The Securities and Exchange Board of India (Sebi) approved Prestige Hospitality’s IPO plan in August.
In 2025, Brookfield-backed Schloss Bangalore Ltd, the operator of ‘The Leela’ brand, and Brigade Hotel Ventures raised ₹3,500 crore and ₹746 crore, respectively, through an IPO.
However, Prestige did not go ahead with the public listing of its hospitality business and is in a wait and watch mode. Razack said the idea to do an IPO was to bring in liquidity in the form of equity.
“We can go ahead with the listing whenever we wish to. But we will do it at the desired valuation. There is some market volatility and instability globally as well. Meanwhile, private equity firms have approached us for potential investments in the hospitality business,” Razack told Mint.
Later this year, Prestige will open its hotels in Delhi Aerocity. In 2027, another 170-key hotel will be opened in Bengaluru, after which it has a pipeline of multiple hotels that will open in Hyderabad, Chennai, Mumbai and Goa, Suresh Singaravelu, executive director and chief executive, Prestige Hospitality Ventures, said.