India, May 30 -- Bengaluru's listed real estate developer, Prestige Estates Projects Ltd, has partnered with Mumbai-based Valor Group (formerly known as DB Realty) to develop an office complex worth Rs.4,500 crore in Mumbai's Andheri area.

According to a regulatory filing, the project's estimated Gross Development Value (GDV) is approximately Rs.4,500 crore, with Valor and Prestige each holding a 50% economic stake.

The joint development agreement was signed on May 28 for land measuring 21,978.22 square metres in Andheri East, Mumbai.

As per the filing, Rs.504 crore will be infused into a Special Purpose Vehicle (SPV) that will be set up to execute the project.

Prestige Estates announced on May 28 that it has successfully completed th...