Hines - Goel Ganga Corporation, Transaction Advisory in Kharadi, Pune, India
01 THE CHALLENGE
Goel Ganga Corporation wanted to develop a marquee asset to create a landmark in the market and compete with the established commercial developers. The group had never developed large scale commercial projects which was a major challenge to achieve the above objective. Also, they wanted to retain the entire project and wanted to participate in the entire development cycle.
02 THE SOLUTION
Cushman & Wakefield’s Capital Markets team, after fully understanding the group’s requirement, suggested Development Management partnership with a US based realty firm Hines. Hines was already exploring options to enter commercial segment in Pune. Considering the individual strategic objectives of the both firms, the partnership was a perfect synergy.
03 THE RESULT
Cushman & Wakefield team facilitated bringing both the partners together with a common goal of building a marquee project in Kharadi, Pune. In this partnership, Goel Ganga Corporation contributes their deep local expertise with respect to market knowledge & Hines brings its world-class development experience, including design, construction, leasing and asset management. Development Management Agreement has been signed on June 2021 & the project is currently in design stage for Phase 1 of 2.4 M SF.
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