Hines and DNR Group to build office project in Bengaluru, India

WCN Editorial Team 21 Apr 2022 ASIA BUILDINGS

Hines, a US-based real estate company, and DNR Group, an India-based construction company, has launched DNR Nagavara, their second office development project together in the Indian city of Bengaluru.

The office project will be constructed on an 11.3-acre land parcel, which is situated near Manyata Tech Park and Karle Town Centre in north Bengaluru.

DNR is the project owner, while Hines is serving as the development manager in this project.

This two million square feet total leasable area project is expected to be finished by Q4 2026.

The project will offer views of Nagavara Lake.

Hines India head and senior managing director Amit Diwan said: “We entered the Bangalore office development business with DNR group in 2020 and today it has grown to be our largest project portfolio in the country.

“Hines and DNR have established a successful partnership, which has laid the foundation for us to come together again and expand the relationship to build yet another Grade-A office project. The Nagavara project will be attractive to both built-to-suit and multi-tenanted options for our occupier partners.”

DNR Group managing director Vipul Kumat said “We have had an excellent partnership in Yeshwanthpur, with DNR and Hines creating what will be a best-in-class project in the location.

“With our joint experience, we shall develop a world-class project to meet the needs of the occupiers in a post-COVID environment. We believe a local-global partnership provides unique benefits to tenants that neither can do alone as successfully.”

With DNR Altitude, Hines started its partnership with DNR Group in July 2020.

The project is currently in progress on a four-acre land parcel owned by DNR Group in Yeshwantpur in Bengaluru.

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Image:The office project will be constructed on an 11.3-acre land parcel. Credit: Nathan Ergang from Pixabay.

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