US-based Hines Realty is gearing up to establish its presence in India, actively seeking Indian partners for joint ventures aimed at residential development. The Indian residential market stands out as one of the most attractive globally, continuously drawing interest from international investors. A prime example of this allure can be seen through the growing private equity investments flowing into the Indian residential segment, further bolstered by Hines Realty's forthcoming plans.
Unlike other private equity firms that often invest in properties, Hines Realty has expressed its intent not merely to invest but to actively participate in the development of a residential project, contingent on securing a partnership with a local entity.
Hines Realty's strategy focuses on launching a residential project in India; however, this ambition hinges on their ability to form partnerships with Indian firms. Previously, Hines completed two commercial developments within the country, the first being a collaboration with DLF in Gurgaon, and the second in partnership with Shyam Telecom.
These developments were carried out through Hines India Real Estate Pvt Ltd, and now, nearly five years since their last projects, Hines is poised to penetrate the residential market.
Additionally, reports suggest that Hines Realty has plans for developing hotel projects. Specifically, the firm aims to establish a four-star hotel in SkyView Corporate Park, a mixed-use development they are jointly creating with Shyam Telecom.
"We plan to rope in one of the international hotel brands for developing a four-star hotel project in Gurgaon," stated Hines India Managing Director and Country Chief, Yash Gupta, in discussions with media representatives.
The proposed hotel is expected to feature around 300 rooms, primarily targeting individuals working within the complex.
Gupta emphasized that Hines Realty's primary focus will be the Delhi-NCR and Mumbai areas, anticipating the development of one or two residential projects within the upcoming year, specifically aimed at catering to mid-segment and upper mid-segment housing markets.