India: Hines partners DNR Group to develop office project

Photo by Micheile Henderson on Unsplash

Global investment and development firm Hines, with over $133 billion in assets under management (AUM) worldwide, has partnered DNR Group to develop an office project in Bengaluru.

The project, which marks Hines’ entry into the city’s office market, will be undertaken through a development management model.

In India, Hines has an existing partnership with DLF Ltd and last year, they signed a second joint venture to develop an office project in Udyog Vihar, Gurugram.

In Bengaluru, Hines has partnered with Shapoorji Pallonji Real Estate to develop two phases of the Park West project.

Hines’ new partnership with DNR Group is to develop office space on a four-acre land parcel, owned by the latter, in Yeshwantpur.

Vipul Kumat, managing director, DNR Group said, “This is an excellent location that benefits from great connectivity by road, as well as the metro. We believe a local-global partnership provides unique benefits to tenants that neither can do alone as successfully.”

In this partnership, Hines will take care of design, construction, leasing and asset management.

Amit Diwan, managing director and country head, Hines India said, “We have been open to entering Bangalore 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.”

This article was first published on livemint.com.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.