International real estate firm Hines and Conscient Infrastructure, have launched Elevate Homes, a development management platform for residential projects and is planning to target five to six projects in 2022-2023 across Gurugram, Delhi and Noida.
The platform is targeting around 2-3 million square feet (sq ft) a year which means a portfolio of around 10-15 million sq feet in five years.
The new platform will build premium projects on a development management model offering the entire range of services required for building successful marquee projects. The company will be staffed independently with some from Hines and others from Conscient, it said in a statement.
Elevate Homes will engage best-in-class design consultants and architects offering high-end amenities, designed to give a quality lifestyle experience to the residents.
“Elevate is one of the bestselling projects in Gurugram commanding a premium to the micro market due to the value it offers to the customers,” said Amit Diwan, country head for Hines India.
“We are delighted to partner with Conscient again, this time for a platform that will execute multiple projects in Gurugram, Delhi and Noida. Hines and Conscient have built an effective joint team over the last six years and will now leverage the international expertise and domestic experience to fill the void of a development services company," he said.
Elevate Homes platform will take up multiple projects of different sizes and cost as per requirement of the customers. Each project will have its own its own design and features, complemented with a dedicated project execution team.
Rajesh Jain, managing director, Conscient said that “It synergises the strengths of both Conscient and Hines in a growing market where customers are increasingly more informed and discerning. Elevate Homes will have end to end design, development, sales, and CRM capabilities. We should be announcing our first project in Q2 2022”.
Hines and Conscient have previously partnered in 2019 to develop Project Elevate at Golf Course Road (extension) in Gurugram, India. Project Elevate has been a resounding success with a total sale turnover of over Rs. 1,100 crore and is widely acknowledged as one of the best projects in the city. Construction is at advanced stages and the project is scheduled for a before time delivery in 2024, despite the interruptions caused by the COVID-19 pandemic and the NGT.
Hines is a privately-owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management totaling approximately $83.6 billion. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million sq ft.
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