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Last Updated : | Source: Moneycontrol.com

Hines partners with DNR to develop 1 mn sq ft office complex in Bengaluru

The project is scheduled to be completed in 2023.

Global real estate firm Hines has announced its entry into Bengaluru office development market through a tie-up with the local DNR Group and plans to develop an office complex spread across a 1 million sq ft of built-up area, the company said.

The firm has Assets Under Management (AUM) of over $133 billion across 205 cities worldwide, including two office developments, One Horizon Center and Skyview Corporate Park located in Gurugram.

The Bengaluru project will have a 20-storey office tower with accompanying amenities spaces, the company said.

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The project is scheduled to break ground in Q1 2021, and will be completed in 2023.

The Bengaluru land parcel is a 4-acre commercial site owned by DNR Group and is located in Yeshwantpur, a rapidly transforming corridor and an emerging alternate to CBD with excellent connectivity to public transportation in Bengaluru, the company said in a statement.

Hines India Managing Director and Country Head Amit Diwan said, "We have been open to entering Bengaluru with the right partner, and only on a land parcel with the right characteristics. The city has the deepest institutional office market in India, and we are keen to add an exceptional Grade-A office project."

Hines is a global real estate investment firm with a presence in 205 cities across 24 countries. It entered India in 2006 and has so far invested $400 million equity for development of six projects, of which two are already completed.
First Published on Jul 2, 2020 09:28 pm
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