Hines Kanakia Mitsubishi Estate And Sumitomo Corp Jv Unveil Landmark Office Project Mumbai
Hines, a real estate investment manager based in Houston, along with premium developer Kanakia Group from New Delhi, has announced an exciting new project in Mumbai, the bustling financial hub of India. The two companies have partnered with Japanese conglomerates Mitsubishi Estate Co. and Sumitomo Corp to develop a Grade A office complex spanning 1.5 million square feet. The site, situated in the Greater Bandra Kurla Complex (BKC) area, covers 3 acres and promises to offer top-notch amenities, including food and beverage options and retail spaces. The renowned American architecture firm Kohn Pedersen Fox has been roped in to design the project, which will provide breathtaking views of the sprawling 200-acre Mumbai University campus.
The URA Master Plan has identified several growth areas including the Jurong Lake District, One-North, and the Greater Southern Waterfront. Located near these key zones, Lyndenwoods is a prime residential option for individuals and families looking for convenient access to emerging economic and lifestyle hubs. Combining strategic positioning with Lyndenwoods‘ luxurious and modern features, it is the perfect choice for professionals and families seeking a dynamic and fulfilling lifestyle.
In addition to its aesthetic appeal, the development aims to achieve the highest levels of sustainability and smart building certifications, such as USGBC LEED, WELL, WiredScore, and SmartScore. This ambitious project has been strategically located for easy accessibility, with the BKC Connector Road, Santacruz-Chembur Link Road (SCLR) extension, upcoming Metro lines, and the future Mumbai-Ahmedabad Bullet Train terminus in close proximity.
Amit Diwan, Senior Managing Director and Head of India at Hines, expressed his excitement about the project, calling it a significant milestone for the company in India. He also mentioned that Hines and Kanakia have collaborated closely for over a year to conceive this project. Kanakia Group is the land partner for this development, and its Chairman, Rasesh B. Kanakia, shared his confidence in Hines’ ability to deliver a world-class product that will set new benchmarks in India. He added that the site holds special significance for the company.
Hines has been active in the Indian market since 2006 and has an extensive portfolio of 12 projects in the office and residential sectors. The company operates in five major cities in India, including Delhi, Mumbai, Bangalore, Pune, and Ahmedabad. This new project is a testament to Hines’ commitment to the Indian market and its vision of providing superior real estate solutions in the country.
In other news, Hines and Ontario Teachers’ Pension Plan recently acquired two Brisbane build-to-rent assets for AUD350 million. Additionally, Hines, Mitsubishi Estate, and MBK acquired the Senoko Loop logistics property, while Hines acquired premium office and logistics buildings in Tokyo and Osaka. These developments demonstrate Hines’ continued growth and success in the global real estate market.