Overview: Prestige-Advent JV at Sahar, Andheri East
Prestige Group has entered a landmark 50:50 joint venture with Advent Hotels International to develop a hospitality-led, mixed-use project on a 5.4-acre parcel in Sahar, Andheri East — one of Mumbai's most land-constrained micro-markets. The project itself spans approximately 5.4 acres (21,978.22 square metres) of prime land in Sahar, Andheri East, near Mumbai's International Airport. It will feature roughly 1.5 million square feet of leasable space with a projected Gross Development Value of ₹4,500 crore.
The development is structured through Advent Convention & Hotels International Ltd (ACHIL), the special purpose vehicle formed for this asset. The transaction gives Prestige Estates equal economic and voting rights in ACHIL, while Advent Hotels retains the balance stake. The development is positioned as a hospitality-led mixed-use complex, combining premium hotel operations with complementary commercial and office components.
Industry estimates suggest a substantial component mix within the 1.5 million sq ft envelope. The 1.5 million square feet of leasable space suggests a configuration of approximately 400–600 hotel rooms (likely 5-star branded), 300,000–400,000 square feet of Grade-A office space, and 200,000–300,000 square feet of premium F&B, retail, and convention facilities. Prestige's emphasis on LEED Platinum and IGBC Gold certifications across its Mumbai portfolio indicates this project will pursue similar green-building standards.
This marks Prestige's deepening commitment to Mumbai's commercial and hospitality real estate after entering the city's residential market in 2022. For Prestige, the move represents a calculated expansion beyond pure office development into integrated hospitality-commercial ecosystems—a higher-complexity asset class but one with significant value creation potential in a premium location.
