Last week saw two international real estate companies venturing into Indian realty, Hines of the US and Gazit Globe of Israel.
Hines, the American real estate giant is committed to a USD300 million fund for investment
in Indian projects.
Operating through its subsidiary, Hines India Real Estate, the company
will sponsor billion dollar projects in India.
Ranked foremost amongst the world’s largest real estate developers, it is present in 96 cities with 950 properties in its portfolio, holding assets worth USD 16 billion. In India, it has partnered DLF in one city centre project in Gurgaon.
Covering 15 acres, the project aims to create a “Connaught Place” in Gurgaon with landscaped exteriors and interiors.
Hines will focus on development projects in metros, with the NCR, Mumbai and Bangalore as the preferred locations.
Chennai, Kolkata and Hyderabad would be considered too, for high-end offices,
residential complexes, integrated townships and IT SEZs.
Last week, Israeli real estate firm Gazit Globe announced its investment
in Hiref International, HDFC’s real estate investment fund.
Gazit-Globe’s subsidiary in India will channelise USD 110 million in various real estate projects which would span SEZs, technology and industrial parks, hospitality, commercial, residential and entertainment projects.
Hiref International is registered in Mauritius and has an asset value of USD 750 million with a nine-year life span
