Juggy Marwaha, CEO of Prestige Office Ventures
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SOMASHEKARA GRN
The US may dwarf the world with nearly 7 billion sq. ft of office stock, and China follows at 3.6 billion sq. ft. But India, with 1.1 billion sq. ft, has quietly emerged as the powerhouse of Asia-Pacific, commanding nearly 70 per cent of the region’s office demand. Bengaluru is at the heart of this surge.
Juggy Marwaha, CEO of Prestige Office Ventures, says the future will be shaped by transit-oriented, sustainable and future-proof campuses. With GCCs driving growth, developers are stepping in to invest in mobility solutions and new-age assets.
Bengaluru is at the centre of India’s office growth story. How does it compare with other markets?
India today is a 1.1 billion sq. ft office market, 70 per cent of Asia Pacific. Bengaluru, Hyderabad and Gurgaon together account for 60 per cent of India’s office leasing. Chennai has emerged strongly too. South dominates this growth in office leasing market.
Transit-oriented office spaces are gaining traction globally. How do you see this trend playing out in India?
Absolutely. Every new Prestige office project is within 2 km of a metro station. Employees don’t want to commute more than 45 minutes one way. Mobility and last-mile connectivity will decide the future of offices. That’s why we’re building integrated ecosystems where housing, offices and retail sit within the same connected ring.
Developers are increasingly investing in last-mile infrastructure themselves. What has Prestige’s experience been?
We’re building a 300-meter flyover connecting Bellandur metro station to our Lakeshore Drive campus using our own capital. The government has been supportive in granting approvals. This kind of private participation is essential if Indian cities want to stay competitive globally.
What’s your view on the government’s new land tokenisation model?
It’s an excellent step. It allows landowners to earn revenue as equity holders when projects come up, instead of resisting development. This model was pioneered by Satish Magar at Magarpatta City and now governments across India are adopting it. It ensures more hygienic, long-term revenue sharing.
Prestige has expanded across asset classes. What’s next in the pipeline?
Residential remains our core, followed by offices, retail, hospitality and hotels. But we’re also entering data centres, logistics and senior living in a big way. Student housing is inevitable in the long run, it’s a patient business, but the upfront annual payments make it attractive over time.
Published on September 14, 2025