American real estate developer Hines is planning to develop housing projects in India, in partnership with some Indian developers.
American real estate developer Hines plans to enter the residential segment of India. The group plans to develop one or two housing projects. Earlier, partnering with DLF Ltd and Shyam Telecom, it had developed some commercial projects in India.
Now the American realty firm is looking for options to develop housing projects. Hines group is looking for Indian partners who are ready to collaborate with them for developing housing projects.
Our main focus will be New Delhi and Mumbai, stated Yash Gupta, Hines India MD and Country Chief, when asked about the plan of the American firm. The US Firm is operational in India through its Indian wing Hines India Real Estate Pvt Ltd.
Residential segment might have seemed to them as more lucrative than the commercial segment. It has always been sought after by the global investors and private equity firms. Various PE firms have invested over billions in housing and commercial realty segments in India.
Hines for the first time invested in India in the year 2008. Their first project was a commercial project. It was completed with the collaboration of DLF Ltd. This project is located in Gurgaon.
Their second project SkyView Corporate Park was a mixed use project. Shyam Telecom collaborated with them for developing this project.
Besides the housing projects, Hines also has revealed their plans to develop some hotel projects as well. Developing a 4-Star Hotel inside SkyView Corporate Park is one among them. The American developer firm is reported to have entered into talks with international hotel brands for this purpose.
Commenting on the group’s plan, Mr. Gupta said that they aim to develop one or two residential projects this year. However, he adds, these projects will be mid and upper mid housing segments focused, and not top-end luxury housing segment focused.