Hines plans dedicated India fund to invest in office buildings

Global real estate investment and development firm Hines is seeking to increase its exposure to India with a plan to raise a fund dedicated to office building investments in the country amid a series of reforms improving the business environment, said a senior company official.

Global real estate investment and development firm Hines is seeking to increase its exposure to India with a plan to raise a fund dedicated to office building investments in the country amid a series of reforms improving the business environment, said a senior company official.

The US-based company plans to raise the India-dedicated fund worth $500 million over the next two quarters as part of its growth strategy. It will be a closed fund with a total duration of 10 years.

Hines India expects to commit almost half of this fund in the first year itself and has already started exploring investment opportunities to do so.

“The change in regulations and the series of reforms related to Indian real estate over the past few years have given us more confidence in the business environment here. We are optimistic about the attractive opportunities for a global investor like us in India. This is the right time to participate in India’s growth driven by improving demographics, urbanization and political reforms,” Amit Diwan, Senior Managing Director and Country Head, Hines India, told ET.

Hines India is looking to expand its presence in the country through new tie-ups and alliances.

The company is exploring new office projects through development management agreements in the property markets of Bangalore, Pune and Mumbai. In addition to these, there are also plans to announce a housing project in Mumbai and Gurgaon soon.

Currently, the company has projects spread over a total of 12 million square feet under pipeline, including in the construction and design phase, and the new fund is expected to further increase its portfolio.

“The company is open to various growth options, including direct acquisitions, joint ventures, development management, term financing and asset management,” Diwan said.

Hines forayed into the Indian property market in 2006 and initially developed and leased two office developments including One Horizon Center and Skyview Corporate Park in Gurgaon. To date, the company has a portfolio worth $1.2 billion with assets acquired, managed and under development.

Currently, Hines has five office projects and three residential projects in various stages of development in the National Capital Region (NCR), Mumbai, Bangalore and Pune. In addition to its first office in Gurgaon, the company has also opened new offices in Mumbai, Bangalore and Pune, and is now looking to explore more property markets.

“We announced a regional business structure at Hines India in January. This aims to sharpen our focus and accelerate growth across all regions. We plan to enter Hyderabad this year,” added Diwan.

From this year, Hines India is looking to continue its developments by investing in prime locations for office and residential projects and entering into development management agreements for the creation of office space for occupiers in the IT sector. ‘information.

In 2022, the company will begin vertical construction in the Gurgaon and Pune property markets, and will also begin leasing in its 0.75 million square foot Altitude office project in Bangalore.

Against the backdrop of an ongoing policy overhaul, growing investor confidence, increased transparency and continued growth in demand for Class A commercial office space, experts believe the Investment momentum in the Indian real estate sector will continue to increase.

Appetite for Indian real estate assets among global institutional investors continues to be strong. Large foreign funds like Blackstone Group, Brookfield Asset Management, GIC, Xander, Ascendas, CPPIB, Warburg Pincus and Goldman Sachs are increasing their investments in the sector. Ends

Hines India expects to commit almost half of this fund in the first year itself and has already started exploring investment opportunities to do so.

“The change in regulations and the series of reforms related to Indian real estate over the past few years have given us more confidence in the business environment here. We are optimistic about the attractive opportunities for a global investor like us in India. This is the right time to participate in India’s growth driven by improving demographics, urbanization and political reforms,” Amit Diwan, Senior Managing Director and Country Head, Hines India, told ET.

Hines India is looking to expand its presence in the country through new tie-ups and alliances.

The company is exploring new office projects through development management agreements in the property markets of Bangalore, Pune and Mumbai. In addition to these, there are also plans to announce a housing project in Mumbai and Gurgaon soon.

Currently, the company has projects spread over a total of 12 million square feet under pipeline, including in the construction and design phase, and the new fund is expected to further increase its portfolio.

“The company is open to various growth options, including direct acquisitions, joint ventures, development management, term financing and asset management,” Diwan said.

Hines forayed into the Indian property market in 2006 and initially developed and leased two office developments including One Horizon Center and Skyview Corporate Park in Gurgaon. To date, the company has a portfolio worth $1.2 billion with assets acquired, managed and under development.

Currently, Hines has five office projects and three residential projects in various stages of development in the National Capital Region (NCR), Mumbai, Bangalore and Pune. In addition to its first office in Gurgaon, the company has also opened new offices in Mumbai, Bangalore and Pune, and is now looking to explore more property markets.

“We announced a regional business structure at Hines India in January. This aims to sharpen our focus and accelerate growth across all regions. We plan to enter Hyderabad this year,” added Diwan.

From this year, Hines India is looking to continue its developments by investing in prime locations for office and residential projects and entering into development management agreements for the creation of office space for occupiers in the IT sector. ‘information.

In 2022, the company will begin vertical construction in the Gurgaon and Pune property markets, and will also begin leasing in its 0.75 million square foot Altitude office project in Bangalore.

Against the backdrop of an ongoing policy overhaul, growing investor confidence, increased transparency and continued growth in demand for Class A commercial office space, experts believe the Investment momentum in the Indian real estate sector will continue to increase.

Appetite for Indian real estate assets among global institutional investors continues to be strong. Large foreign funds like Blackstone Group, Brookfield Asset Management, GIC, Xander, Ascendas, CPPIB, Warburg Pincus and Goldman Sachs are increasing their investments in the sector.

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