Real Estate Gurgaon

Hines India Real Estate, a wholly owned subsidiary of American realty giant Hines, has set up a $300 million fund dedicated for projects in India.

“We have an investment fund in India with $300 million of equity which should sponsor projects up to a billion dollars in total value,” said Yash Gupta, joint managing director, Hines India.

Hines is one of the largest real estate developers in the world. It is a privately-held firm with a presence in over 96 cities across the globe. Its portfolio consists of around 950 properties and the firm controls assets valued at approximately $16 billion.

The Indian office was opened last March and the firm has committed to only one project so far – a city centre spread over 15 acres in Gurgaon in equal partnership with DLF.

This complex will comprise a 30-storey high office tower, retail, restaurant and entertainment venues, a hotel. To attract crowds and make it the “Connaught Place” of Gurgaon, this city centre with also have landscaped exterior and interior public spaces.

“We are more interested in quality than quantity. Hines India will develop iconic landmarks in the country,” said Gupta.

The company has decided to stick to just the metros, as it believes this is where the true demand for quality exists.

It is keen to develop projects in the National Capital Region, Mumbai and Bangalore. “Our presence in Chennai, Hyderabad and Kolkata will be reactive to a good opportunity coming up,” said Gupta.

The company is looking to develop high-end office and residential space, integrated townships and IT/ ITeS special economic zones.

Source : Business Standard