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

31 Oct 2025

Birla Estates Tops Global GRESB 2025 Rankings

Birla Estates (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate (formerly Century Textiles and Industries Limited), has been recognised as a Sector Leader in the 2025 GRESB Real Estate Assessment, securing top honours across multiple global and regional categories.Birla Estates’ Achievements in GRESB 2025:Global Sector Leader – ResidentialGlobal Sector Leader – Non-Listed ResidentialRegional Sector Leader – Asia – ResidentialRegional Sector Leader – Non-Listed – Asia – ResidentialThese distinctions reaffirm Birla Estates’ exceptional performance in Environmental, ..

Progota India Secures RDSO Clearance for Kavach 4.0

Concord Control Systems, one of India’s leading manufacturers of embedded electronic and critical system solutions, announced that its associate company, Progota India, has received Technical Prototype Clearance from the Research Designs and Standards Organisation (RDSO) for Kavach 4.0, the latest version of Indian Railways’ indigenous Automatic Train Protection (ATP) system.With this clearance, Progota has been formally approved to execute its ongoing trial order from South Central Railway, marking a key milestone in India’s railway modernization journey. The approval also establishes P..

MPS Interactive Systems Completes Full Acquisition of Liberate Group

MPS Interactive Systems (MPSi), a material subsidiary of MPS, has completed the acquisition of the remaining shareholding in the Liberate Group of Companies—comprising Liberate Learning, App-eLearn, and Liberate eLearning.With this transaction, MPSi now holds 100 per cent ownership of all entities within the Liberate Group, making them its wholly owned subsidiaries. The acquisition was executed in line with the valuation methodology defined in the original transaction documents.Commenting on the development, Rahul Arora, Chairman and CEO of MPS, said, “The corporate learning sector continu..