In 1986, Razack Sattar formally founded Prestige Group, transitioning from retail textiles to real estate development. Nearly four decades on, the company has grown into one of India's largest listed property firms. With a legacy spanning nearly four decades and a portfolio that includes residential, commercial, retail, hospitality, and integrated township projects across major cities, the Group had delivered 302 projects spanning 193 million square feet as of March 2025, with a pipeline of 130 projects across 203 million square feet. According to the 2024 Forbes India Rich List, Prestige was the second-largest listed property firm in India.
That scale and pedigree inform the choice Prestige Group has now made at Bengaluru's northern edge. Prestige Group and Bengaluru Airport City Limited (BACL) have unveiled plans for a 1.5 million square foot mixed-use development within the Bengaluru Airport City precincts. The move is not incidental — it is the product of a deliberate calculation about where Bengaluru's next institutional-grade commercial district is forming.
The development is planned on a 14.2-acre parcel near Kempegowda International Airport, with an investment of around Rs 1,800 crore. The integrated development will house a world-class 8,000-seat Convention and Exhibition Centre, a state-of-the-art performing arts theatre, a luxury hotel, and Grade A office spaces, all seamlessly woven together with curated food and beverage and global dining experiences.
The hospitality component carries two Marriott flags. Prestige Group is looking to develop an initial inventory of over 350 keys across two hospitality brands — the convention-focused Marriott Marquis and ultra-luxury hotel Marriott St. Regis. The group has a comparable project underway in Delhi, slated to be operational by end of 2026, which houses 600 keys under Marriott Marquis and 200 keys under St. Regis. The Bengaluru Airport City development draws from that template, adapted to an airport-city setting rather than a central-city site.
The Convention and Exhibition Centre has been envisioned as a multi-format, high-impact venue capable of hosting global summits, trade expos, innovation forums, and large-format cultural events. The project is expected to become operational by 2031, with construction set to commence by early 2027.
For Irfan Razack, the project carries explicit civic intent. Bengaluru has been integral to Prestige Group's journey for over three decades. Razack stated that the development reflects the group's vision of creating destination-defining assets that contribute meaningfully to the growth of cities and economies, and that by integrating hospitality, business, culture and lifestyle experiences within a single ecosystem, the group is creating a landmark destination that will set new benchmarks for mixed-use development in India.
Bengaluru Airport City is being built on 463 acres of land at Kempegowda International Airport in Devanahalli, Karnataka, by Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL). The project forms part of the larger Airport City initiative, of which about 110 acres out of the 450-acre site have already been developed or are under development.
The district is designed to comprise transit-oriented developments of over 45 million square feet by 2040. Conceived as an economic hub, the Airport City is expected to house commercial offices, entertainment venues, healthcare facilities and educational institutions, among other projects. Prestige's convention-and-hospitality anchor is the first marquee private-sector commitment within that framework at this scale.
The airport itself provides the demand floor. 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 surpassed 350 million cumulative passengers since its opening in February 2025. An 8,000-seat convention centre needs a catchment of that magnitude to run at high utilization, and Kempegowda International Airport now supplies it.
This 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. BIAL's own leadership has signalled as much: Hari Marar, Managing Director and CEO of BIAL, described the partnership with Prestige Group as an important step in defining the next phase of urban growth through destinations that bring together enterprise, talent and ideas at scale, with the Convention Centre anticipated to become a leading regional venue for international conferences, exhibitions, corporate events, and cultural gatherings.
Prestige Group's decision to commit Rs 1,800 crore at Airport City does not exist in isolation. The surrounding Devanahalli corridor has been steadily acquiring the infrastructure that separates aspirational zones from ones that actually transact at scale.
Between 2024 and 2035, the corridor is steadily positioning itself as Bengaluru's largest long-horizon urban growth zone, integrating airports, logistics, manufacturing, semiconductor ambitions, and township development into a single emerging economic ecosystem. Property prices in Devanahalli have already risen by 15.73% in recent years, and that trend is continuing.
Prestige has done a significant volume of residential work in the northern part of Bengaluru. The Airport City convention project therefore represents a continuation and an escalation: the group moving from residential into institutional mixed-use in the same geography it has been cultivating for years. The company specialises in developing premium residential apartments, villas, commercial offices, retail malls, hospitality properties, and leisure projects across major cities including Bengaluru, Chennai, Hyderabad, Mumbai, Kochi, Mangalore, Goa, and emerging markets like Delhi-NCR. The breadth of that product range is precisely what a 1.5 million square foot mixed-use precinct demands from its anchor developer.
Prestige Group has earned the distinction of being the only developer with a CRISIL DA1+ rating for construction and development capabilities. For a project of the complexity of the Convention and Hospitality Hub — dual hotel flags, a large-format venue, Grade A commercial space, and F&B all on one land parcel — that construction rating carries material significance for co-investors, hospitality brands, and corporate office occupiers assessing the covenant behind the development.
India's MICE sector has historically been constrained by the shortage of large, purpose-built convention infrastructure close to international airports. Delhi's Aerocity set the template. Bengaluru's Airport City, with Prestige as its convention anchor, is the southern equivalent in the making. Located within Bengaluru Airport City, the project is poised to serve a diverse mix of global travellers, event organisers, corporations, visitors, and residents, and by combining infrastructure with hospitality, commercial, and cultural offerings, it strengthens Bengaluru's appeal as a global gateway while advancing the Airport City's vision as a dynamic centre for commerce, collaboration, and experiences.
For buyers tracking Prestige Group's evolving footprint, the Convention and Hospitality Hub marks a deliberate step beyond residential and retail — into the category of city-shaping infrastructure that only a developer with Prestige's balance sheet and operator relationships can credibly deliver.