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Prestige Group, a renowned real estate developer, has marked a significant achievement by selling luxury residences worth ₹1300 crore in South Mumbai within the first three months of pre-launch. This remarkable success was announced through an official statement by the company.
Situated at Marine Lines and offering breathtaking views of the Queen’s necklace and the Arabian Sea, Prestige Ocean Towers features 169 residences spread across two towers on a sprawling 2-acre plot. The project boasts a substantial developable potential of 4.62 lakh sq ft carpet area, with an estimated revenue potential of around ₹4,100 crore.
During the pre-launch phase, Prestige Group introduced 75 residences with a potential revenue of ₹1700 crore, witnessing an impressive sale of over 70% of these residences even before the official opening of the experience center and show apartment.
CMD of Prestige Group, Irfan Razack, expressed gratitude towards customers, partners, stakeholders, and well-wishers for their continuous support and trust. He mentioned that the overwhelming response encourages them to expedite the launch of the remaining inventory at Prestige Ocean Towers.
CEO of Prestige Group, West region, Tariq Ahmed, highlighted the launch as a testament to the group’s commitment to creating spaces that redefine luxury living.
Prestige Group, having entered Mumbai’s real estate market two years ago, has achieved notable sales across various projects such as Prestige City in Mulund, Prestige Jasdan Classic in Mahalaxmi, Prestige Daffodils in Bandra, and now Prestige Ocean Towers in Marine Lines, totaling close to ₹6,000 crore worth of inventory.
Looking ahead, the group plans to expand its residential portfolio in Mumbai by acquiring prime land parcels in addition to their existing commercial ventures in locations like BKC and Mahalaxmi.
With a rich history of completing 300 projects encompassing a developable area of 190 million sq ft, Prestige Group continues to make significant strides in the real estate sector, delivering excellence and innovation in every endeavor.
Sources By Agencies
