Hines and Kanakia Group Unveil Trophy Office Project in Mumbai
Deal News | May 30, 2025 | Hines Interests LP
Hines, a global real estate investment manager, and India's Kanakia Group have announced a joint venture to develop a premier office space in Mumbai's financial district, Bandra Kurla Complex (BKC). The development, spanning 1.5 million square feet on a 3-acre site, aims to feature high-end amenities and retail spaces, underscoring Hines' strategic focus on India's commercial real estate market. Notably, the project involves partnership with Mitsubishi Estate Co., Ltd. and Sumitomo Corporation. Designed by Kohn Pedersen Fox, the development will prioritize sustainability with certifications like USGBC LEED and WELL. The announcement reflects growing investor interest in India, fueled by its robust economic and demographic growth. Since 2006, Hines has expanded its portfolio across five major Indian cities, increasingly positioning itself in the office and residential sectors.
Sectors
- Real Estate
- Investment Management
Geography
- India – The development takes place in Mumbai, India, reflecting the country's growing importance in the global real estate investment landscape.
- United States – Hines, as a global real estate investment manager, is headquartered in the U.S., giving this project international significance.
- Japan – Both Mitsubishi Estate Co., Ltd. and Sumitomo Corporation, Japanese companies, are partners in this real estate development project.
Industry
- Real Estate – The article discusses the development of a major real estate project in Mumbai, highlighting investment and development activities within the real estate sector.
- Investment Management – Hines is highlighted as a global real estate investment manager, focusing on expanding its portfolio in the Indian market.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hines Interests LP | Developer and Investment Manager | Company | A global real estate investment manager involved in developing the office space project in Mumbai. |
| Kanakia Group | Co-Developer | Company | An Indian real estate developer partnering with Hines on the Mumbai office project. |
| Mitsubishi Estate Co., Ltd. | Joint Venture Partner | Company | Japanese company partnering in the development of the office space. |
| Sumitomo Corporation | Joint Venture Partner | Company | A Japanese corporation involved as a joint venture partner for the project. |
| Kohn Pedersen Fox | Architect | Company | An American architectural firm tasked with designing the Mumbai office development. |