Project Launch
Prestige Estates Acquires 50% Stake in ₹4,500 Crore Sahar Mixed-Use Project in Andheri East
Prestige Estates Projects Ltd has entered a joint venture to develop a ₹4,500 crore mixed-use complex in Sahar, Andheri East, through a 50% equity stake acquisition announced on 3 July 2026. The project will deliver approximately 1.5 million square feet of office and hospitality space on a 5.4-acre land parcel near Mumbai's International Airport.
| Developer | Prestige Estates Projects Ltd (50% joint venture with Valor Group) |
|---|---|
| Location | Sahar, Andheri East, Mumbai (5.4 acres / 21,978.22 sq m) |
| Project Type | Mixed-use hospitality and office complex |
| Leasable Area | Approximately 1.5 million square feet |
| Gross Development Value | ₹4,500 crore |
| Investment by Prestige | ₹504 crore for 50% stake |
| Status (as of September 2026) | Upcoming – joint venture announced; construction pipeline |
| Expected Completion | 2028 |
Project Structure and Scale
On 3 July 2026, Prestige Estates announced an investment agreement to acquire a 50% stake in Advent Convention and Hotels International Limited, with the transaction expected to close within 45 days. Prestige and Valor hold equal 50% economic stakes through a Special Purpose Vehicle (SPV), with Prestige infusing ₹504 crore into the SPV.
The project, with an estimated Gross Development Value of ₹4,500 crore, will rise on a sprawling 21,978.22 square metre plot in Andheri East—a prime location that is rapidly emerging as Mumbai's next business epicenter. With a leasable area of 1.5 million square feet, the project will cater to the growing demand for premium office spaces in Mumbai, offering businesses a prestigious address that combines convenience, connectivity, and cutting-edge amenities.
Product Type and Configuration
The development is positioned as a hospitality-led mixed-use complex, combining premium hotel operations with complementary commercial and office components. The project integrates both hotel infrastructure and Grade-A office space, differentiating it from standalone commercial office developments in the city.
The complex features Smart Building Technologies with advanced automation, security, and energy management systems; Sustainability at its Core through green construction practices, energy-efficient designs, rainwater harvesting, and renewable energy solutions; and Wellness-Oriented Spaces with expansive layouts, natural light, fitness centers, green terraces, and relaxation zones.
Andheri East Micro-Market Context
The micro-market is strategically located between South Mumbai, the western suburbs and Navi Mumbai, and in close proximity to the T2 Airport, with a developed commercial ecosystem featuring MNCs, home-grown companies, Global Capability Centres (GCCs) and knowledge-driven businesses.
Andheri East and Sahar function as an emerging secondary commercial hub attracting mid-size IT, logistics, and e-commerce tenants; increasingly popular for affordable Grade-A office alternatives to BKC. The operational Coastal Road between Marine Drive and Worli has reduced travel time from South Mumbai to Andheri making cross-city business travel faster.
Infrastructure and multimodal connectivity are improving, with integration into Mumbai's expanding metro network, including Mumbai Metro Line 1 connecting Versova, Andheri and Ghatkopar, and Mumbai Metro Line 7 linking Andheri East. Institutional capital is flowing into airport-adjacent commercial and hospitality projects, while Metro expansion and coastal road projects are strengthening commercial leasing demand.
Status and Timeline
Expected completion is 2028. The project remains in the pre-construction phase as of September 2026, with the joint venture agreement finalised in July 2026. Prestige Group's upcoming Mumbai commercial properties are projected to add approximately 6.2 million sq ft of Grade-A office space by 2028, with projects including Prestige 101 BKC, Prestige Liberty Towers, and the Prestige-Valor Andheri campus representing a multi-node approach across key business districts.
RERA registration details have not yet been disclosed as of September 2026. The project does not currently carry a published RERA number.
Developer Background
Prestige Estates is one of India's real estate developers building across housing, commercial and hospitality segments, and the company recently reported a near doubling of net profit to $126 million for fiscal year 2025-26, up from $49.28 million the year before. The group has completed 313 projects covering 206 million square feet and has 128 projects in the pipeline across 195 million square feet.
Valor (Advent Convention & Hotels International) is a Mumbai-based hospitality company operating luxury and upper-upscale hotels, including Grand Hyatt Goa and Hilton Mumbai International Airport. The partnership brings complementary operational expertise in hospitality and commercial real estate development to the project.
Frequently asked questions
What is the Prestige Sahar project?
A ₹4,500 crore mixed-use complex in Sahar, Andheri East featuring 1.5 million sq ft of office and hospitality space, developed as a 50:50 joint venture between Prestige Estates and Valor Group, with expected completion in 2028.
When was the project announced and what is its status?
The joint venture was announced on 3 July 2026 after Prestige Estates acquired a 50% stake in Advent Convention and Hotels International Limited for ₹504 crore. The project is in the pre-construction phase as of September 2026.
Where is the project located and what are the nearby landmarks?
The 5.4-acre site is in Sahar, Andheri East, near Mumbai's International Airport, within proximity to emerging IT parks, the SEEPZ Special Economic Zone, and key business hubs such as Powai. Connectivity is supported by Metro Lines 1 and 7, the Coastal Road, and major highways.
Is the project RERA-registered?
As of September 2026, no RERA registration number has been publicly disclosed. Registration is expected to follow project commencement and regulatory approvals.
What type of space does the project offer?
A hospitality-led mixed-use complex combining premium hotel operations with complementary Grade-A office components. The total leasable area is approximately 1.5 million square feet.
What is the expected completion timeline?
Completion is targeted for 2028, making it a medium-to-long-term project for investors and corporate tenants seeking committed delivery dates.