GURGAON, INDIA-After more than four years, a joint venture of Houston-based Hines and locally based DLF has finally started construction on an 865,000-square-foot office and retail tower here. The JV announced the development in summer 2007, promising to build a 2.5-million-square-foot mixed-use project across from a DLF residential golf course subdivision.
This morning, Hines announced that construction of the One Horizon Center building has reached ground level, and completion is expected by 2013. A Hines spokeswoman did not answer questions on why development was delayed, but pointed out that work has begun. “In a way, it’s a progress story,” she tells GlobeSt.com.
In the 2007 announcement, the JV said it would build a hotel, luxury apartments, retail and a 30-story office tower on the 15-acre site here on Golf Course Road, with another office building possible. The statement today said the new tower has been shortened to 25 stories, and only mentions that the office building “will be the architectural centerpiece of a mixed-use complex.” A Hines Web page on the project still lists the other projects, but does not include a second office.
New York City-based Robert A.M Stern Architects created the design for the office property. This is the first foray into India for Stern, who had created projects for Hines in Brazil, Mexico and the United States.
Gurgaon is known as an outsourcing center for global companies such as Alcatel and IBM Corp. In today’s statement, Hines president and CEO Jeffrey Hines said he’s proud to start construction on the building. “India is an important market for us with huge potential, as we see growing demand among discerning clients,” he said.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
