Hines' new partnership with DNR Group is to develop office space on a four-acre land parcel in Yeshwantpur, Bengaluru.
Global real estate firm Hines partnered with Bengaluru based DNR Group to develop an office complex spread across a one million sq ft of built-up area.
The project, which marks Hines' entry into the city's office market, will be undertaken through a development management model. It is scheduled to break ground in Q1 2021 and will be completed in 2023.
The US based firm has Assets Under Management (AUM) of over $133 billion across 205 cities worldwide, including two offices development, One Horizon Center and Skyview Corporate Park located in Gurugram.
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."