Hines infuses Rs.150 cr in Tata Housing

Ensuring smooth flow of finances to its on-going and upcoming projects in the real estate sector, Global real estate player Hines is all set to invest $23 million amounting to Rs.150 crore in Tata Housing's residential project at Thane in Mumbai . The wellness homes project offers home-buyers two, three and four-bedroom, hall, kitchen, apartments with a starting price of Rs.1.65 crore, CEO and MD, Tata Housing, Brotin Banerjee, said. He elaborated that the partnership with Hines is in line with long-term growth strategy of expanding premium and luxury portfolio with iconic projects at marquee locations across the country. This partnership will help bring in the global best practices from Hines internationally and looking forward to expanding their association with Hines for future projects. In India, Hines has developed One Horizon Center and Sky View Corporate Park, and invested in an upcoming residential project on Golf Course Extension Road in Gurgaon with Conscient Group. This investment is in line with thesis of providing equity capital to tier-I developers on residential projects, catering to the needs of the upper-middle and luxury segments, besides, marking Hines entry into the Mumbai realty sector. Senior Director of Investments for Hines India, Amit Diwan said.