(BENGALURU, INDIA) - DNR Group and Hines, the international real estate firm, announced today the start of construction of DNR Altitude. Bhoomi Pujan was recently performed at the site to mark the beginning of construction.
Altitude is located on a 4-acre commercial site owned by DNR Group, in Yeshwanthpur, a rapidly transforming corridor and an emerging alternate to CBD, with excellent connectivity to public transportation in Bangalore. The project with 1 million square feet of built-up area will have a grade-A quality 20-story office tower with accompanying amenity spaces.
An initial investment of Rs. 200 Cr has already been made in the project. DNR Group and Hines entered into a partnership in 2020 to develop the project. While Hines brings its world-class development experience to the table, including design, construction, leasing and asset management, DNR Group will bring their deep local knowledge. Altitude is expected to be completed by the second quarter of 2024.
Vipul Kumat, Managing Director, DNR Group said, “The office sector today is at a pivotal point of transformation that is likely to continue for a while. However, it is certain that once things start returning to normal, quality is going be the key. The occupier, who will ultimately drive the value in the office sector, is going to choose better partners, better landlords and better projects. Therefore, the developers who have better quality projects to showcase will stand to benefit. I am confident that Altitude will stand apart from the rest and offer an unparalleled workplace experience to the customers.”
Monish Krishna, Managing Director - Development, Hines India said, “We have been working in India for over a decade to create landmark office spaces. One Horizon Center on Golf Course Road, Gurgaon, one of the finest office spaces in India, are a few of our projects. The design team has done an excellent job and we are confident of bringing a future-ready office project incorporating Hines’ latest knowledge from around the world. This project will be the address of choice for office goers in the future.”
Altitude is truly a TOD (Transit Oriented Development) with close proximity to Metro, bus station and SBD Growth Corridor. Altitude boasts a state-of-the-art design and sustainable features. The project is COVID future proof incorporating elements like wide and spacious circulation areas, enhanced fresh air provisions as per IGBC and WELL standards, anti-microbial finishes in common areas, adoption of touch-less technologies, vertical transportation system with higher handling, queuing and holding spaces designed to ensure social distancing norms.
DNR is one of the leading developers in Bangalore with 20 years of experience in building best in class Residential Projects in Bangalore and Indore. DNR is a young & dynamic real estate development group that enjoys creating spaces to live, work and play. The firms’ core vision is to build spaces at extraordinary locations, best in class specifications, concept-based designs, international standards & true value. With a commitment of providing innovative, contemporary & environmentally sensitive spaces it aims to uplift people’s lives.
Visit www.dnrgroup.in/for more information.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management totaling approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm currently has more than 171 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2021.