(BENGALURU) – Hines, the global international real estate firm and DNR Group, a leading local developer in Bengaluru, today announced the launch of DNR Nagavara, their second office development project together.
The asset will be built on an 11.3-acre land parcel and is located in an established micro-market adjacent to Manyata Tech Park and Karle Town Centre in north Bangalore with spectacular views of the Nagavara Lake. With DNR as the project owner and Hines the development manager in this project, the total leasable area of the project is estimated to be two million square feet and is expected to be completed by Q4 2026.
Amit Diwan, senior managing director and country head of Hines India 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.”
Vipul Kumat, managing director, DNR Group 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.”
DNR and Hines’ partnership began with DNR Altitude in July 2020. The asset is currently in development on a four-acre land parcel owned by DNR Group in Yeshwantpur, a rapidly transforming corridor in Bangalore. That project has generated strong interest from occupiers.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 285 cities in 28 countries. Hines oversees investment assets under management totaling approximately $90.3 billion¹. In addition, Hines provides third-party property-level services to 373 properties totaling 114.2 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,530 properties, totalling over 511 million square feet. The firm currently has more than 198 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.
Visit www.hines.com for more information.
¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2021.
DNR is one of the leading developers in Bangalore with 20 years of experience in building best in class Residential Projects in Bangalore and Indore. DNR is a young & dynamic real estate development group that enjoys creating spaces to live, work and play. The firms core vision is to build spaces with extraordinary locations, best in class specifications, concept-based designs, international standards & true value. With a commitment of providing innovative, contemporary & environmentally sensitive spaces it aims to uplift people’s lives.
Visit www.dnrgroup.in/for more information.