Hines makes its foray into Pune office market with Goel Ganga Corporation

12 Jun 2021 CW Team

International real estate firm Hines has announced a strategic entry into the Pune office market through a partnership with Goel Ganga Corporation.

Hines will plan for a 43-acre proposed IT park in Kharadi, nearly 7 million sq ft. The first phase of development will be a 2.4 million sq ft of Class A office space.

The Managing Director, and India's country head of Hines, said they share a long-term vision and believe that this project will be an ideal office for the future tenants.

The Chairman and Managing Director of Goel Ganga Corporation, Amit Goel, said that their vision is to create a benchmark in commercial, IT, ITES assets for over 20 million sq ft. They are delighted to partner with Hines to create a benchmark like the ones created in other parts of India and worldwide. They believe that a local-global partnership can be beneficial for the project, which neither can do alone successfully.

Cushman & Wakefield's Managing Director, Saurabh Shatdal, added that they are happy to make a deal where both the partners will get benefits from each other's strengths and experience to create the landmark project in Pune. The Kharadi office market is a location of choice and occupiers want a high-quality campus, which Hines can build on Goel's land.

The land is situated in the SBD East sub-market of Pune. It has more than 50% stock of Class A offices in Pune at the lowest vacancy rates in the city. The SDB East has the highest annual absorption, and it is one of the fastest-growing office markets in Pune. It is one of the preferred destinations for IT, ITES, and BFSI tenants. The project is well-connected with other major micro-markets of East Pune through Ahmednagar Highway and Kharadi Bypass Road.

Image Source

Also read: 7,400 office leases of 90 million sq ft up for renewal in top 6 cities in 2021

Also read: Office market in Delhi maintains its momentum in 2021

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..