Ground breaking ceremony kicks off construction of prestige ocean crest


Panjim, September 14, 2020: India’s leading real estate firm Prestige Estates Projects Ltd held a ground breaking ceremony on Saturday, celebrating the start of construction on its first residential project in the state of Goa.

Prestige Group has entered into a joint venture with Mathias Constructions Pvt Ltd for a premium residential development project ‘Prestige Ocean Crest’ (RERA NUMBER: PRGO02201073) at Dona Paula that consists of 106 apartments, 7 shops, and 1 sea-view restaurant.
In attendance for the ceremony were several benefactors of the project, Prestige Estates employees and senior members from Mathias Contructions. The project is expected to be completed by February 2023.

With the ground-breaking ceremony, Prestige Estates is setting a clear intent, even in Covid-19 times, to continue to pursue its plans in the state of Goa. The project is expected to create several employment opportunities in the construction sector amid the Covid-19 crisis.

Prestige Group expects its first residential project in Goa ‘Prestige Ocean Crest’ to significantly enhance its portfolio and strengthen the company’s presence in Western India. Prestige Group is confident that Mathias Constructions knowledge and local connect will help it create something nice for Goa and Goans.

Irfan Razack, Chairman and Managing Director of Prestige Group said, “We are thrilled to partner with Mathias Contructions to create a premium residential project in Goa. The ground breaking ceremony marks the next phase of what will be a long and successful relationship between our two organisations. The partnership has enormous potential and we are very excited about the journey ahead. We look forward to working closely with the Mathias team to create a landmark project and offer premium affordable housing for all especially locals during the period of dislocation the industry is currently facing.”

Mr Joe Mathias, managing director of Mathias Constructions Pvt Ltd said, “We are very pleased to be associated with a group like Prestige, which is synonymous with trust, integrity and quality. We share their commitment of sustainable development and we look forward to bringing world-class residential project to this iconic location of Dona Paula.”

Prestige Ocean Crest is strategically located and offers a well-developed social infrastructure with multiple schools, hospitals, and retail spaces in the vicinity. It also has excellent road connectivity to the capital city of Panjim.


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