US-based Hines partners Conscient to set up platform to develop housing projects

New Delhi, Mar 16:
Global realty firm Hines on Wednesday said that it has partnered with Conscient Infrastructure to set up a platform to develop housing projects across the Delhi-NCR property market.
Hines India and Gurugram-based Conscient Infrastructure have launched ‘Elevate Homes’ – a development management platform for residential projects.
“The new platform will build premium projects on a development management model, offering the entire range of services required for building successful marquee projects,” Hines said.
The platform will engage best-in-class design consultants and architects, offering high-end amenities designed to give a quality lifestyle experience to the residents.
Hines and Conscient are already developing a luxury housing project Elevate in Gurugram.
Hines India Country Head Amit Diwan said: “We are delighted to partner with Conscient again, this time for a platform that will execute multiple projects in Gurugram, Delhi and Noida. Hines and Conscient have built an effective joint team over the last six years and will now leverage the international expertise and domestic experience to fill the void of a development services company”.
The new platform will take up multiple projects of different sizes and costs as per the requirement of the customers.
“We are very excited about the launch of Elevate Homes and are confident that this will add a new chapter to this era of premium living.
“It synergises the strengths of both Conscient and Hines in a growing market where customers are increasingly more informed and discerning. Elevate Homes will have end to end design, development, sales, and CRM capabilities. We should be announcing our first project in Q2 2022,” said Rajesh Jain, managing director, Conscient.
Hines and Conscient have earlier partnered in 2019 to develop a project named Elevate, which has achieved a total sale turnover of over Rs 1,100 crore (around USD 140 million). The construction is at advanced stages, and the project is set for a before time delivery in 2024.
In India, Hines has completed two commercial projects ‘One Horizon Center’ and ‘Skyview Corporate’ in Gurugram comprising 1.4 million square feet.
Hines India is currently developing three housing and three commercial projects across major cities with over 10 million square feet of area.
It has partnered with big realty players like DLF, Tata Realty and Shapoorji Pallonji to develop projects in India.
US-based Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. It oversees investment assets under management totalling approximately USD 83.6 billion.
In addition, Hines provides third-party property-level services to more than 367 properties, totalling 138.3 million square feet.
Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totalling over 492 million square feet. The firm currently has more than 171 developments underway around the world.
Global real estate firm Hines, which has a major presence in India, has promoted Laura Hines-Pierce as the co-CEO of the firm. She joins father Jeff Hines as co-leader of the firm. Laura Hines-Pierce has served as Hines’ senior managing director in the office of the CEO since 2020. (PTI)