Hines & DNR Group to Develop 1 MN SQFT Office Complex

US-based realty firm Hines has partnered Bengaluru-based DNR group to develop an office complex in the IT city of Bengaluru with 1 million sq ft of built-up area. The construction work for the project is scheduled to start in Q1 2021, and complete in 2023. The land parcel, a four acre commercial site owned by DNR Group, is located in Yeshwantpur, a rapidly transforming corridor and an emerging alternative to the commercial business district (CBD). The project with 1 million sq ft of built-up area, which is currently in a design stage, will have a 20-storey office tower with accompanying amenity spaces. Hines India Managing Director and Country Head Amit Diwan said, "We have been open to entering Bengaluru with the right partner, and only on a land parcel with the right characteristics. The city has the deepest institutional office market in India, and we are keen to add an exceptional Grade-A office project." Vipul Kumat, Managing Director, DNR Group said, "We believe a local-global partnership provides unique benefits to tenants that neither can do alone as successfully."