Hines Signs Collaboration Deal in Gurugram for Office Space with Pioneer Group

Hines Signs Collaboration Deal in Gurugram for Office Space with Pioneer Group

Global real estate developer Hines has partnered with Pioneer Urban Land and Infrastructure Ltd to develop a new office complex in Gurugram, India. Hines Announces New Collaboration Deal in Gurugram for Office space at golf course extension road.

Project Highlights:

• Location: Golf Course Extension Road, Gurugram
• Total Project Cost: INR 15 billion (US$180 million)
• Size: 1.25 million sq ft of office space
• Completion Date: Expected in 2028
• Project Significance:
  • Caters to the growing demand for modern and sustainable office spaces in Gurugram.
  • First office project for Hines on Golf Course Extension Road.
  • Part of Pioneer Urban’s larger mixed-use masterplan.

Hines’ Strategy in India:

• Leverage expertise and resources to deliver high-quality office space.
• Capitalize on the momentum in India’s commercial real estate market.
• Focus on meeting tenant demand for amenities and sustainability.

Hines’ Track Record in Gurugram:

• One Horizon Centre (completed in 2014, the first Hines project in India)
• Atrium Place (under construction, four-building complex)
• Elevate (under construction, first residential project for Hines in India)
• Skyview Corporate Park (developed in partnership with Shyam Telecom)

Market Drivers:

• Growth of Global Capability Centers (GCCs) in India
• Increased office space demand by GCCs (40% of total demand in top 6 cities)
• Strong office leasing activity in India’s top cities (up 35% YoY in Q1 2024)

Overall, this joint venture strengthens Hines’ position in the Gurugram office market and positions them to capitalize on the growing demand for modern, sustainable office space driven by the expansion of GCCs in India.

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in