Prestige Group's decision to plant its flag inside the Bengaluru Airport City boundary is not an opportunistic bet — it is the largest single-developer commitment the Airport City precinct has attracted since the master plan was unveiled. Prestige Group and Bengaluru Airport City Limited (BACL) unveiled plans for a 1.5 million sq ft mixed-use development on a 14.2-acre parcel near Kempegowda International Airport. The investment is pegged at around ₹1,800 crore, with construction set to commence by early 2027 and the project expected to become operational by 2031.
Prestige Group is one of India's most diversified real estate developers, with a legacy spanning nearly four decades and a portfolio that includes residential, commercial, retail, hospitality, and integrated township projects across major cities. As of March 2025, the Group has delivered 302 projects spanning 193 million sq ft and currently has a pipeline of 130 projects across 203 million sq ft. Airport City represents a qualitative step: for the first time, the Group is not building adjacent to or near the airport — it is building within the airport district itself, as a formal institutional partner of BACL.
Anchored by a convention and exhibition centre, the mixed-use development will include luxury hotels, office space, retail and food outlets, and a performing arts space with a proposed seating capacity of 2,500. The project is centred on an 8,000-seat convention and exhibition centre near Kempegowda International Airport. Alongside the convention hall, the integrated project will feature a performing arts theatre, a luxury St. Regis hotel, Grade A office spaces, and retail zones.
The choice of the St. Regis — a Marriott International marquee brand — signals the hospitality tier Prestige is targeting. St. Regis operates in Mumbai and Goa in India; its presence in an airport city context would make the Bengaluru development one of the few airport-embedded St. Regis properties in the country. Paired with the convention hall, this positions the destination specifically to serve MICE (Meetings, Incentives, Conferences, Exhibitions) demand rather than generic corporate hospitality.
This initiative is expected to place Bengaluru on the global MICE map and boost the local economy, generate employment, and enhance India's standing in international business tourism and event hosting. Irfan Razack, Chairman and Managing Director of Prestige Group, has framed the development as a reaffirmation of the Group's long-standing commitment to the city's growth story — "giving back to Namma Bengaluru by creating infrastructure that drives global visibility, economic opportunity, and cultural vibrancy."
The Airport City project does not arrive in a vacuum. Prestige Group has been methodically acquiring land and launching residential and plotted products along North Bengaluru's IVC Road and the Devanahalli belt for several years. Prestige Greenbrook is a plotted community on IVC Road, Devanahalli. Prestige Crystal Lawns is a plotted development also on IVC Road in North Bengaluru. Prestige Sanctuary Villas is a 23-acre ultra-luxury villa project in Devanahalli, off Nandi Hills, opposite Prestige Golfshire. Prestige Sanctuary features 85 ultra-luxury villas near Nandi Hills priced from ₹5.5 crore.
Prestige Park Drive is located on Palya Road, Devanahalli, IVC Road — one of several plotted developments the Group has delivered in the sub-district. Taken together, Prestige has established a continuum of products here: plotted layouts for self-construction buyers, villa enclaves for high-net-worth end-users, and now a large-format institutional destination at the Airport City's core. Prestige has done considerable residential work in the northern part of Bengaluru, and the Airport City project represents the commercial and hospitality tier that sits logically above that residential base.
Bengaluru Airport City spans 463 acres and is being built at Kempegowda International Airport in Devanahalli, Karnataka, by Bengaluru Airport City Limited, a subsidiary of Bangalore International Airport Limited. The district is planned to comprise transit-oriented developments of over 45 million sq ft by 2040, with new assets to be launched every two years. About 110 acres out of the 450-acre Airport City have already been developed or are under development.
The airport that anchors this district is itself expanding rapidly. 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; it surpassed 350 million cumulative passengers since opening in February 2025. BIAL has planned to expand Terminal 2 by 2.78 lakh sq m, adding 40 apron stands; the project is expected to finish by 2028 and raise annual passenger capacity beyond 85 million.
For a convention and MICE destination co-located with one of India's three busiest airports, the passenger throughput figures are directly relevant: every delegate arriving for a conference or exhibition can connect to 41+ million annual travellers using the same gateway. That co-location logic — not simply proximity to the airport, but operational integration with it — is what differentiates Prestige's Airport City project from the Group's own residential and commercial projects scattered across North Bengaluru.
NH 44 is a six-lane signal-free expressway linking Devanahalli, Hebbal, Yelahanka, and Central Bengaluru, reducing travel time significantly. NH 648 connects Devanahalli to Hoskote, Doddaballapur, and Tumkur, enhancing industrial corridor growth. The metro corridor is the next structural step. Namma Metro Phase 2A and 2B (the Blue Line airport corridor) is targeted for 2026–2027, with its route serving Hebbal, Nagavara, Yelahanka, and Kempegowda International Airport. This airport section forms part of the 56-km ORR-Airport Metro from Central Silk Board Junction to the KIA terminals via KR Puram and Hebbal.
Once operational, the metro will allow passengers to travel between the airport and Bengaluru's central business districts without road dependency — a direct enabler of the convention centre's catchment. Delegates from Indiranagar, Koramangala, and MG Road would have rail access to the conference venue itself.
Property prices in Devanahalli have moved 20.3% over one year, 62.4% over three years, and 97.9% over five years. The average flat rate in Devanahalli, Bengaluru is currently around ₹9,500 per sq ft. At the upper end of the market, where Prestige Sanctuary and comparable luxury products from the Group position themselves, Prestige Sanctuary villas near Nandi Hills are priced from ₹5.5 crore.
Property prices in Devanahalli have surged roughly 60% over five years according to government transaction data, and land values have appreciated over 188% in the same period. This is demand driven by a Foxconn facility generating a land price surge across North Bengaluru, Amazon India relocating its corporate headquarters, and a metro line that is now over 52% complete.
Prestige Group's integrated destination, being a commercial and hospitality asset rather than a residential product, does not trade on the per-sq-ft residential metrics. Its return logic is lease yields from Grade A offices, room nights from the St. Regis, and delegate spend from the convention centre — all of which are accentuated, not merely supported, by the same infrastructure wave that has driven the residential price chart upward.
Prestige Estates Projects plans to launch as many as 25 residential projects with 44.80 million sq ft of developable area and an estimated gross development value of ₹42,120 crore in FY26. These projects are lined up in Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa. The Airport City development is therefore one of several simultaneous moves in a national expansion cycle — but it is the one project where Prestige is acting as an urban institution builder rather than a housing developer. The 1.5 million sq ft convention-hotel-office destination, delivered in partnership with BACL, sits in a different category from even the Group's largest residential townships.