Hines, Conscient Infra Award Rs 500 Cr Contract To Tata Projects Ltd For Building Their Housing Project
New Delhi: Global real estate player Hines and Indian real estate firm Conscient Infrastructure Pvt Ltd have awarded Rs 500 crore construction contract to Tata Projects Ltd for building their housing project ‘Elevate’ in Sector 59 of Gurugram,
Tata Projects Ltd will construct and deliver the project by 2023, according to a statement by the two real estate players.
Conscient Infrastructure Pvt Ltd is the developer of the project while Hines is the development advisor and investment manager. This project is Hines’s first housing project in India.
“We are delighted to award this prestigious contract to one of the finest construction companies in India. Elevate is a high-quality project and in Tata Projects we find a partner who shares our commitment to quality, transparency, safety and timely delivery to create the highest possible value for our customers,” said Prachish Vasudeva, senior director, Hines India.
“We chose Tata Projects because of our confidence in their construction engineering ability and their commitment to deliver high quality that an international architectural design require,” said Rajesh Jain, director, Conscient Infrastructure Pvt. Ltd.
Elevate will have 556 flats in 3BHK and 4BHK formats priced between Rs 2.4 and 4.0 crore. The saleable area size ranges from 2,100 square feet to 3,400 square feet.
Conscient Infrastructure Pvt. Ltd. Was established in 1975 and deals in luxury residential properties and commercial properties in the country. It deals in aspects of real estate such as identification and acquisition of land, planning, execution and marketing of the projects and maintenance of completed developments.
Hines is a privately owned international real estate investment company established in 1957 and has presence in 219 cities in 23 countries. Hines has about USD 124.3 billion of assets under management, including USD 63.8 billion for which Hines provides fiduciary investment management services and USD 60.5 billion for which Hines provides third-party property-level services.