US based Hines realty is planning to set its foot in India. The American real estate firm is seeking Indian partners for developing joint ventures.
Residential market in India is one of the most charming residential markets in the world. It has been attracting investors from across the globe. Private equity investments in the Indian residential market are fine examples. Adding to it is the plan of Hines Realty to enter India.
Unlike the PE Firms, the American developer looks forward not to investing in India but to developing a residential project, joining hands with an Indian partner.
Hines Realty plans to develop a residential project in India. However, the firm will be able to do so only if they gain an Indian partner.
Earlier Hines realty has developed two commercial projects in India. The first one was developed in collaboration with DLF. This commercial project is in Gurgaon. Shyam Telecom collaborated with them for developing their second commercial project.
These projects were done through its Indian arm Hines India Real Estate Pvt Ltd. It is almost five years after these developments. Now the American developer is planning set its foot in the residential market.
The firm also is reported to have plans to develop some hotel projects. The group aims to develop a 4-Star hotel in SkyView Corporate Park, a mixed use project jointly developed with Shyam Telecom.
We plan to rope in one of the international hotel brands for developing a 4-star hotel project in Gurgaon, Hines India MD and Country Chief Yash Gupta told some media-persons.
The hotel will have nearly 300 rooms and it mainly aim at those who work inside the complex.
Mr. Gupta said that the firm’s main focus will be Delhi-NCR and Mumbai. The group aims to develop one or two residential projects within a year. The projects will be targeting mid-segment housing and upper mid-segment housing.