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Global real estate firm Hines will invest $23 million (about ₹150 crore) in Tata Housing’s residential project at Thane in Mumbai .
The wellness homes project Serein offers home-buyers two, three and four-bedroom, hall, kitchen apartments with a starting price of ₹1.65 crore.
Brotin Banerjee, CEO and MD, Tata Housing, said: “Our partnership with Hines is in line with our long-term growth strategy of expanding our premium and luxury portfolio with iconic projects at marquee locations across the country. This partnership will help us bring in the global best practises from Hines internationally. We look forward to expanding our association with Hines for future projects.”
In India, Hines has developed One Horizon Center and Skyview 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 our thesis of providing equity capital to tier-I developers on residential projects, catering to the needs of the upper-middle and luxury segments. This also marks the entry for Hines in Mumbai, and is the first step towards a geographically-diversified India presence for Hines in times to come,” said Amit Diwan, Senior Director of Investments for Hines India.
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