Hines' India arm to launch third-party asset management business this year

Hines, the US-based investor-cum-developer that has more than $144 billion of assets under management, is looking to launch a third-party asset management business in the country this year.

“In India, we will do end-to-end asset management for select third-party portfolios, starting with office assets. The scope will include both leasing and property management services,” said Amit Diwan, managing director and country head, Hines India.

Globally, its asset management business includes 344 properties (143.7 million square feet). Recently DLF bought Hines’ stake in One Horizone Center for Rs 780 crore. Both are also building another commercial project in Gurugram.

Hines is