US-based real estate major Hines plans to invest USD 500 million in India to develop new commercial and residential projects as it sees great prospects for growth in the country. Hines is a renowned global real estate investment firm with a key presence in 219 cities across 23 countries. It entered India in 2006 and has so far invested USD 400 million equity for the development of six projects, of which two have already been completed. Laura Hines-Pierce, Managing Director and Chief Transformation Officer, Hines who represents the third generation of Hines family opined that Asia and India is a focus market for them and they are planning to invest USD 500 million in India over the next several years. According to Hines Chief Investment Officer (Asia) Lee Timmins said that the company has a long-term and very positive view on Indian real estate. The realty major plans to use the problems that exist in Indian real estate market to their advantage.

The real estate company would continue to focus on developing and investing in office and residential developments in medium term but could explore opportunities in retail and logistics/warehousing projects in the long term. Hines would adopt a careful approach in picking right partners and right locations for projects development and would make investment in acquiring projects across major cities and at the same time could also divest certain leased assets. Hines India MD and Country Head Amit Diwan said the Hines is open to developing projects under all models including outright purchase, joint ventures, joint development agreement and development management for fee. The company is looking to add 4-6 projects in the next three years and is already in active discussion for three projects in the development management model.

Conscient Elevate

In India, Hines has already finished two prime office complex projects in Gurugram, including ‘One Horizon Centre’ in joint venture with realty major DLF. Furthermore, Hines had acquired 33 per cent stake in DLF’s upcoming commercial project in Gurugram in a deal size estimated at around Rs 650 crore in March this year. The realty major has also formed a joint venture with Conscient Infrastructure to develop a luxury residential property ‘Elevate’ in Gurugram with an estimated cost of Rs 1,500 crore. Conscient Hines Elevate is the collaboration of the two trusted names in real estate, Conscient and Hines. Conscient Hines Elevate is an ultra-luxury residential project in Sector 59 Gurgaon offering 3 BHK and 4 BHK luxury apartments in Gurgaon. Spread over 7.78 acres of land area, Conscient Hines Elevate 3 BHK 4 BHK apartments range from 2095 sq. ft. – 3395 sq. ft. with world class amenities.

Conscient Elevate Highlights

  • Designed by world leading Spanish Architect RICARDO Bofill
  • Vehicular free surface with a central water spine and multi layered landscaping.
  • Stone Clad arcades link all towers for hassle free pedestrian movement.
  • Innovative basement concept with exclusive drop off zones and light cut outs for plenty of sunlight and ventilation.
  • Luxurious 3 & 4 BHK apartments with lush views of the Aravallis, capacious floor plan to gain sun filled rooms, high ventilation and double-glazed L-shaped balconies.
  • European style social club with resort pool & temperature-controlled lap pool.
  • Wide range of services like the gym, spa, clubhouse, yoga space, sports hub, jogging track, kid’s playground, car parking area, power and 24×7 water back up.
  • Standalone three side open towers with well-designed service core & separate service ramp.

Conscient Elevate Location and Connectivity Advantages

  • Close proximity from Golf Course Road and Golf Course Extension Road
  • 25 km away from the Delhi Airport
  • 15 km away from the Cybercity offices complex
  • 13 km from MG Road
  • Easily reachable from Metro & Rapid Metro
  • Many reputed super specialty hospitals within 10 km distance
  • DPS International, Amity, Heritage school, Shri Ram Global School, Pathway are just a few minutes away

Source: https://timesofindia.indiatimes.com/business/india-business/us-based-hines-to-invest-usd-500mn-on-new-projects/articleshow/72425245.cms

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