Prestige Group Makes a Splash in Kerala with Rs 1,200 Crore Ocean Pearl

The Prestige Group is set to make its mark in Kozhikode, Kerala, with the introduction of its inaugural residential venture, 'Prestige Ocean Pearl.' This strategic expansion in Kerala is poised to generate substantial revenue, estimated at Rs 1,200 crore, with the project slated for completion in May 2027.

Encompassing a sprawling 1.5 million sq. ft. area, the project represents a significant investment of Rs 800 crore. Comprising 530 luxurious units in a blend of three-bedroom and four-bedroom configurations distributed across four towers, each priced between Rs 1.7-2.5 crore, Prestige Ocean Pearl stands tall at 28 floors, establishing itself as one of the largest projects in the coveted Beach Road area.

In collaboration with Westend Avenue, the development site boasts a well-established social infrastructure, featuring numerous schools, hospitals, and retail spaces. Additionally, the project benefits from excellent road connectivity to the city. Leveraging Kozhikode's status as a prominent trading hub in the state, the developers anticipate attracting high-net-worth individuals (HNIs) and non-resident Indians (NRIs). Currently, there are approximately 2.5 million sq. ft. of ongoing projects in the state.

Prestige Ocean Pearl offers a plethora of leisure amenities, including a multipurpose hall, gym, infinity swimming pool, indoor games, and a clubhouse. The project also prioritizes sustainability, incorporating features such as rainwater harvesting systems, solar power for common area lighting, and provisions for electric vehicle (EV) charging stations.

In November, the company successfully launched Prestige Glenbrook in Bengaluru. Looking ahead to the last quarter of FY24, Prestige Group plans to unveil additional residential projects with a combined sales value of Rs 600 crore. Furthermore, the company is set to introduce an 80-acre plotted development in Bengaluru and another one in north Bengaluru.

As part of its expansion strategy, Prestige Group is eyeing the NCR region in north India, encompassing areas like Noida, Delhi, and Gurugram. The company aims to solidify its presence in these key markets, reaffirming its commitment to delivering exceptional real estate offerings across diverse regions.

News by Rahul Yelligetti