Global real estate investment and development player, Hines, has planned to scale up its India exposure with a plan to raise the India-dedicated fund worth $500 million in the next two quarters as part of its growth strategy. This will be a close-ended fund with a total tenure of 10 years and Hines India is planning to commit nearly half of this fund in the first year itself and has already started exploring investment opportunities for the purpose.
The change in regulations and series of reforms related to Indian real estate over the last few years have provided more confidence in the business environment. The company is optimistic about compelling opportunities for a global investor like Hines in India. This is a good time to participate in Indian growth driven by the improving demographics, urbanization and policy reforms.
Senior Managing Director and Country Head, Hines India, Amit Diwan, informed that Hines India is looking to expand its presence in the country through new tie-ups and alliances. The company is exploring new office projects through development management agreements in Bangalore, Pune and Mumbai property markets each. In addition, it is also announcing a housing project in Mumbai and Gurgaon soon. Currently, the company has projects spread over a total 12 million sq ft under pipeline including under construction and design stage and the new fund is expected to increase its portfolio further.