Hines unveils 8.8-acre mixed use project in Mumbai

The US-based and global real estate investment and development major, Hines, has recently entered into the Mumbai property market to develop about 9 lakh square feet of leasable area mixed-use project spread over an 8.8-acre land parcel in the city. For the project, the company has inked a development management alliance pact with a local real estate developer owning the land parcel and both the entities will be jointly developing 30-storey Grade-A office towers on the plot. The proposed project is scheduled for launch in the immediate future and will be completed in the fourth quarter of 2025, said Senior MD and Country head, Amit Diwan, adding that this is an opportune time for Hines to enter the Mumbai office market given the strong growth in global capability centers and financial services companies opening in a city with the availability of a high-class talent pool, as such, the company is marking its entry to the city with a world class office that’s part of an exciting mixed-use development. The land parcel is located on the Western Express Highway and adjacent to a metro station. In India, Hines has completed two commercial projects -- 'One Horizon Center' and 'Skyview Corporate' -- in Gurugram comprising 1.4 million square feet. 1 million sq ft and currently has over 16 million square feet area under development across Bengaluru, Delhi-NCR, and Pune, he claimed.