Hines announces partnership with Tata Housing in India
Hines has entered into a partnership with India-based Tata Housing, to invest $23 million toward the development of India’s first wellness homes project — Serein.
“This investment is in line with our thesis of providing equity capital to Tier-1 developers of residential projects, catering to the needs of the upper-middle and luxury segments. This also marks the entry for Hines into the Mumbai market, and is the first step toward a geographically-diversified India presence for Hines,” said Amit Diwan, senior director of investments for Hines India.
Located in Thane, an upcoming and highly desirable place to live and work, the project is RERA registered and offers homebuyers spacious two-, three- and four-bedroom, hall, kitchen apartments with a starting price of $250,000.
Spanning 7.3 acres, Serein will comprise four 33-story towers, each with a central green activity area. The project’s architectural design takes advantage of its strategic location at the edge of the Sanjay Gandhi National Park, social infrastructure including excellent schools and hospitals, and connectivity to BKC and South Mumbai via the Eastern Express Highway. Serein will be one of the most exclusive and sustainable residential developments in Thane.
“Our partnership with Hines is in line with our long-term growth strategy of expanding our premium and luxury portfolio with iconic projects in marquee locations across the country,” said Brotin Banerjee, CEO and managing director of Tata Housing. “This partnership will help us bring in the global best practices from Hines internationally.”