Dev Accelerator Acquires Office Assets with Prestige Group Partnership
Managed Workspace Operator Scales Bengaluru With Prestige Group Partnership
Dev Accelerator has strengthened its Bengaluru presence with the acquisition of two premium Grade A+ office assets in partnership with the Prestige Group, marking a significant scale-up in the city's high-demand Outer Ring Road (ORR) micro-market. The expansion, spanning 1.11 lakh sq ft, will add over 1,200 seats to the company's portfolio and is expected to generate around Rs 2.2 crore in monthly revenue.
Asset Details and Investment Timeline
The first asset, located at Lakeshore Drive opposite Bellandur Lake, sits within a sprawling 90 acres corporate campus that houses global occupiers. The premium asset, exclusively designed to cater to evolving enterprise requirements, is expected to launch on August 01, 2026, with an investment of around Rs 10 crore towards fit-outs and infrastructure development.
The second development, Prestige Featherlite Tech Hub, is an integrated Grade A+ asset that champions the Walk to Work model. The asset caters to occupiers prioritising reduced commute times, improved employee experience, and operational efficiency.
Strategic Position in Asia's IT Corridor
Securing prime real estate on the Outer Ring Road strengthens the company's footprint in one of Asia largest IT corridors. The dual acquisition caters to the rising demand for flexible institutional grade workspaces among global capability centers and large enterprises.
Global Capability Centres (GCCs) have become the most significant growth engines in India's commercial real estate market. As of mid-2025, India is home to over half of the world's GCCs, with Bengaluru leading the charge. Nearly one-third of the country's GCC leasing footprint is anchored in this city, with 2024 alone seeing about 9.3 million sq ft of fresh activity in the sector. The three locations that always get the highest ranks are: Outer Ring Road (ORR), Whitefield, and North Bengaluru (especially Hebbal and Yelahanka).
The Outer Ring Road Market
The Outer Ring Road corridor has emerged as a critical business artery connecting key parts of Bangalore. Stretching from Hebbal to Silk Board, ORR houses some of the city's largest office campuses. Characterized by business parks and campuses, with maximum absorption and Commercial Grade A office supply of the city, ORR is considered the Commercial Hub of the city with the Highest concentration of Fortune 500 companies.
Despite being partially developed, the ORR still offers pockets of growth, especially near Bellandur, Marathahalli, and Mahadevapura. These areas are evolving into self-sustained business hubs.
About Prestige Group
Prestige Group has successfully led this business for more than 38 years now and have completed close to 350 projects spread over an area of 180 + million sq ft. They have built 125 commercial properties over 48 mn sq ft. They have built 13 retail projects over 10 mn sq ft. Prestige Tech Park I, II, III, Prestige Tech Platina in Varthur, and Prestige Lakeshore Drive already dominate the market with around 12 MSF of developed property but have ambitions that are unrivaled.
Prestige Construction is the only CRISIL DA1+ rated real estate company in India.
Market Demand and Growth Outlook
Dev Accelerator is witnessing strong demand from AI-native GCCs, particularly those operating in the manufacturing and retail sectors. The company's expansion aligns with broader trends reshaping Bengaluru's office landscape, where institutional-grade, flexible workspaces have become essential for companies navigating post-pandemic work models and rapid technology shifts.