Hines India will invest in residential projects
Hines India Real Estate Pvt. Ltd, the local unit of a US-based realty firm, plans to invest into residential development projects in India and warehousing and logistics sector.
Hines has built many landmark towers such as the Bank of America Center in Houston and the EDF Tower in Paris.
In 2007, Hines set up a Rs 1650 crore equity fund to invest in real estate projects. So far the private equity firm has invested around Rs 1100 crore across two projects in Gurgaon, one in the equal joint venture with DLF and the other an office development with HMS Real Estate.
According to Hines, it is the right time to invest in the residential property market in India as the average price points for residential properties in the metro market have moved up appreciably.
Hines India will also set up a separate warehousing and logistics arm to cash in on a maturing retail market. They have a previous experience of similar venture in Brazil and China.
To read more real estate stories:
New mid-segment apartment project in Noida
Source: Live mint
Commercial properties in India, Hines India Real Estate Pvt. Ltd, Housing projects in Chennai, projects in India, Properties in India, Real estate in India, Real estate projects, Residential properties
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