Prestige Group Eyes REIT Launch by FY29 Amid Strong Demand, High Occupancy

• Prestige Group, a Bengaluru-headquartered real estate developer, reports steady demand across South India, Mumbai, and NCR, with no significant stress.
• Chairman Irfan Razack emphasizes that demand remains strong for developers offering the right product, location, and pricing, citing successful recent launches in Bengaluru and NCR.
• Commercial real estate shows robust health with 96% occupancy in Prestige Group's office portfolio; a 2.3 million sq ft project on Bengaluru's Outer Ring Road is 100% leased.
• The company plans to launch a REIT by FY28–29, targeting 45 million sq ft of ready and fully leased office assets to achieve sufficient scale.
• Prestige Group is also prepared for an IPO of its hospitality business, but will await favorable market conditions and valuations before proceeding.

Why It Matters: Prestige Group sees strong real estate demand, high office occupancy, and plans a REIT by FY29, with a hospitality IPO on hold.