Realty firm Hines, DNR group to invest Rs. 650 crore in Bengaluru project.

US-based realty firm Hines and DNR group will invest Rs. 650 crore over the next three years to develop a commercial project in Bengaluru. Hines, a global real estate investment firm with a presence in 255 cities across 27 countries, entered India in 2006.

Last year, Hines and Bengaluru-based DNR partnered to develop an office complex in the IT city with 1 million sq ft of built-up area.

DNR Group and Hines recently started construction of the 'DNR Altitude' project.The project is located on a 4-acre commercial site owned by DNR Group in Yeshwanthpur.

The project with 1 million square feet of built-up area will have a grade-A quality 20-storey office tower.

"Altitude is expected to be completed by end-2024 with an investment of approximately Rs. 650 crore," the company said in a statement.

An initial investment of Rs. 200 crore has already been made in the project.

ET