Prestige Group is one of India's most diversified real estate developers, with a legacy spanning nearly four decades and a portfolio that spans residential, commercial, retail, hospitality, and integrated township projects across major cities. As of March 2025, the Group has delivered 302 projects covering 193 million sq ft and carries a pipeline of 130 projects across 203 million sq ft. That scale matters when reading the group's newest commitment in north Bengaluru: not a residential tower or a plotted community, but a partnership that positions Prestige at the centre of an entirely new urban district rising at Kempegowda International Airport.
Prestige Group and Bengaluru Airport City Limited (BACL) have unveiled plans for a 1.5 million sq ft mixed-use development within the Bengaluru Airport City precincts. The development is planned on a 14.2-acre parcel near Kempegowda International Airport, with an investment of around Rs 1,800 crore. It is the single largest private-sector commitment to the Airport City zone so far.
The partnership will produce an 8,000-seat convention and exhibition centre, along with a performing arts theatre, a luxury St. Regis hotel, Grade A office spaces, and retail zones. The performing arts space within the mixed-use development carries a proposed seating capacity of 2,500.
Construction is set to commence by early 2027, and the project is expected to become operational by 2031. The St. Regis brand — a Marriott flagship — marks the hotel component's positioning at the top end of the hospitality market, consistent with Prestige Group's track record in managed hospitality assets across Bengaluru.
The initiative places Bengaluru on the global MICE map and is expected to boost the local economy, generate jobs, and enhance India's standing in international business tourism and event hosting. For Prestige Group, whose chairman Irfan Razack has framed the project as "giving back to Namma Bengaluru by creating infrastructure that drives global visibility, economic opportunity, and cultural vibrancy," the development represents a different category of engagement with the city compared to residential launches.
The Prestige development sits within a larger undertaking. Bengaluru Airport City spans 463 acres of land at Kempegowda International Airport in Devanahalli, Karnataka, and is being developed by Bengaluru Airport City Ltd. (BACL), a subsidiary of Bangalore International Airport Ltd. (BIAL). About 110 acres out of the 450-acre Airport City have already been developed or are under development.
BACL has already broken ground on a 2 million sq ft Business Park aimed at establishing Bengaluru as a global hub for Global Capability Centres (GCCs), under Karnataka's GCC policy (2024–2029) which seeks to create 3.5 lakh jobs and contribute $50 billion to the economy. Over the next decade, there are plans to develop several business parks, IT parks, a medical district, academic institutions, a concert arena, over 2,500 hotel rooms, and a retail, dining and entertainment district.
This sustained institutional investment makes the Airport City a fundamentally different proposition from a standalone commercial project. Prestige Group's convention and mixed-use asset is designed to operate as an anchor for the district's international-facing ambitions, not as an isolated development.
The Airport City project is not Prestige Group's introduction to north Bengaluru — it is the group's most consequential commitment to a geography where it has been active for over a decade. Prestige Greenbrook is a premium plotted community on IVC Road, Devanahalli, and the group also has Prestige Crystal Lawns, a plotted development on the fast-emerging IVC Road in North Bengaluru. Earlier, Prestige Park Drive was launched on IVC Road, Devanahalli, North Bangalore as a plotted residential enclave. In the ultra-luxury segment, Prestige Sanctuary Villas is an exclusive residential villa project in Devanahalli off Nandi Hills, a 23-acre project opposite Prestige Golfshire, with a golf course, hotels, and amenities.
That cumulative residential footprint across IVC Road, Devanahalli, and Yelahanka makes Prestige Group the developer with arguably the deepest product history in the north Bengaluru airport belt among all major national players — a position the Airport City convention project now extends into commercial and hospitality real estate.
The case for any developer committing Rs 1,800 crore to this location rests partly on the airport's traffic fundamentals. BLR Airport became the first in South India to serve over 41.88 million passengers in FY 2024–25, earning a place in the ACI Large Airport category, and processed 502,480 metric tonnes of cargo. As South India's busiest airport and the third largest in the country, BLR reached a significant milestone in February 2025, surpassing 350 million cumulative passengers since its opening.
Capacity is being expanded to match that growth. BIAL's Chief Operating Officer confirmed that Rs 17,000 crore will be invested by 2029 to expand airside, landside, and terminal capacity. The T2 expansion project, expected to finish by 2028, aims to raise annual passenger capacity beyond 85 million. A convention centre anchored by 8,000 seats draws its commercial logic directly from this passenger and event traffic.
Prestige Group's deepening commercial presence in the Airport City zone arrives against a backdrop of sustained price appreciation in the surrounding residential market. Devanahalli led the price surge in north Bengaluru with a 133% increase, hitting Rs 6,500–Rs 8,000 per sq ft in FY25, up from Rs 2,900–Rs 4,000 in FY21. Bagalur followed closely with a 127% rise, Thanisandra saw a 113% jump, and Yelahanka posted a 116% increase.
The airport has helped north Bengaluru capture a consistent 25–27% share of the city's registered residential transactions, both primary and secondary, since FY21. When Kempegowda International Airport was operationalised in 2008, land prices in Devanahalli and north Bengaluru grew by 40–86% in the first 10 years, with average annual appreciation of 15–20% in key pockets. The current trajectory of planned GCC campuses, metro connectivity, and the Prestige-BACL convention district represents a second, more structured wave of that same growth impulse.
On metro access, the Karnataka Government is progressing Namma Metro Phase 2 Blue Line Phase 2B, a 37 km line that will connect Bengaluru city to Kempegowda International Airport in Devanahalli. The RDE Village at Airport City will also be connected with BMTC's bus service and the Bangalore Metro's 56 km Blue Line. For an 8,000-seat convention venue to function at scale, that multimodal connectivity is necessary infrastructure — and it is being built concurrently.
For buyers and investors tracking Prestige Group in north Bengaluru, the Airport City convention project signals something specific: the group is not repositioning its north Bengaluru exposure toward commercial and hospitality and away from the area's earlier residential product. Rather, it is adding a different asset class — one that has the effect of validating and supporting the surrounding residential catchment by generating sustained employment, business travel, and institutional tenancy in the immediate precinct.
Prestige Estates Projects has announced plans to launch housing projects worth more than Rs 42,000 crore in FY26, including as many as 25 residential projects with 44.80 million sq ft of developable area. These projects are lined up in Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa. North Bengaluru's IVC Road and Devanahalli belt features in that pipeline, reinforcing that the Airport City commercial commitment runs in parallel with continued residential activity in the same corridor.
The Prestige Bengaluru Airport City Convention and Mixed-Use Development, scheduled for operational delivery in 2031, is the group's most structurally significant project in this geography — a 1.5 million sq ft, Rs 1,800 crore vote of confidence in a district that is, as the numbers show, already well past its speculative stage.
