Hines/DLF JV to develop major office tower in Gurgaon, India (IN/US)

The New Delhi office of Hines and DLF Ltd., India's largest real estate company, have announced the signing of a Memorandum of Understanding (MoU) to form a venture to master plan and develop a site of 15 acres located on Golf Course Road in Gurgaon, India. The site is located directly across from the DLF Golf Course and its residential community known as DLF Golf Links.

Hines and DLF also announced the selection of the internationally renowned firm Robert A.M. Stern Architects, which will develop a master plan for the entire site as well as design the first phase of the complex, a major 30-story office tower of approximately 80,000 m² together with ground-floor retail space and a large parking garage. This is the first project in India for both Hines and Stern. Previously, the firms have collaborated on several projects in the United States, Mexico and Brazil.

In addition to the office tower, the master plan is likely to include high-end retail shops, restaurant and entertainment venues, a hotel, and landscaped exterior and interior public spaces. It may also include serviced apartments and a second office tower. The total mixed-use complex is envisioned to include approximately 235,000 m² of construction.

"We are proud that our first development project in India will be in partnership with DLF," said Daniel MacEachron, managing director of Hines India Real Estate Pvt. Ltd. "Golf Course Road is the premier address in Gurgaon. DLF, Hines and Robert Stern share a vision that this project should be the best-conceived and best-executed project in Northern India."

"Our goal is to create a truly unique complex," said Rajiv Singh, DLF's vice chairman. "Through a combination of exceptional design provided by Bob Stern and his talented team, and the experience Hines brings in the conceptualization and development of major urban mixed-use projects in cities around the world, we feel we are partnering with a world-class combination of talent. When completed, this complex will be the heart of Gurgaon, commercially and as a social-gathering destination."

"We are extremely enthusiastic to have the opportunity to enter the Indian market with the commission for such a major urban complex," said Robert Stern.

Source: Hines

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