~Plans to invest $23 million in Serein – India’s first wellness homes project~
Mumbai– Hines, the international real estate firm, has entered into a partnership with Tata Housing, one of the fastest growing real estate companies in India, to invest $23 million towards the development of India’s first wellness homes project – Serein. Located in Thane, an upcoming and highly desirable place to live and work, the finely crafted project is RERA registered and offers homebuyers the luxury of spacious two, three- and four-bedroom, hall, kitchen apartments with a starting price of Rs. 1.65 crore.
Spread across 7.3 acres, Serein will have 4 four 33-story towers, each with a central green activity zone. The architectural design of this development takes advantage of its strategic location at the edge of the Sanjay Gandhi National Park, social infrastructure including reputed schools and hospitals, and excellent connectivity to BKC and South Mumbai via the Eastern Express highway. Serein will be one of the most exclusive and sustainable residential developments in Thane.
Speaking on the occasion, Brotin Banerjee, CEO and Managing Director, Tata Housing said, “Our partnership with Hines is in line with our long-term growth strategy of expanding our premium and luxury portfolio with iconic projects at marquee locations across the country. This partnership will help us bring in the global best practises from Hines internationally. We look forward to expanding our association with Hines for future projects.”
“This investment is in line with our thesis of providing equity capital to Tier-I developers on residential projects, catering to the needs of the upper-middle and luxury segments. This also marks the entry for Hines in Mumbai, and is the first step towards a geographically-diversified India presence for Hines in times to come,” said Amit Diwan, Senior Director of Investments for Hines India.
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