Global real estate investment and development firm Hines Group has strengthened its presence in Mumbai by acquiring development rights and forming a joint venture with Sumitomo Corporation for a high-end residential project in Powai, Maharashtra. The project spans approximately 3.4 acres of prime land, making it a key addition to Mumbai’s premium residential real estate landscape.
The Powai micro-market has emerged as one of Mumbai’s most sought-after residential and commercial hubs, known for its upscale housing, strategic location, and proximity to business districts such as Andheri, Powai IT Parks, and the Eastern and Western Express Highways. By leveraging their combined expertise, Hines and Sumitomo aim to deliver a world-class development that caters to the rising demand for luxury living in this area.
Hines, a global player with a strong track record of developing landmark projects across 30 countries, brings to the table its experience in sustainable and design-driven developments. Sumitomo Corporation, part of the Japanese conglomerate with decades of expertise in urban development, complements this vision with its emphasis on quality, precision, and long-term value creation. The collaboration signals a strong confidence in Mumbai’s real estate market, particularly in the premium housing segment.
The joint venture transaction was facilitated with legal guidance from Shardul Amarchand Mangaldas & Co (SAM & Co), one of India’s leading law firms. The transaction team was spearheaded by Jatin Aneja, Partner and National Practice Head of Infrastructure, Energy, and Project Finance, supported by Dhrupad Pant (Partner), Ishita Sehgal (Principal Associate), and Suryansh Srivastava (Associate). Their expertise ensured smooth structuring and execution of the deal, reflecting the complexity and scale of such international collaborations.
With this venture, Hines continues to expand its Indian portfolio, which already includes marquee residential and commercial projects in cities like Gurgaon and Bangalore. For Sumitomo, this partnership reaffirms its commitment to participating in India’s urban growth story and building long-term value in one of Asia’s fastest-growing real estate markets.
The proposed project is expected to feature premium residential units with state-of-the-art amenities, blending global design standards with sustainability and community-focused living. Given Powai’s reputation for attracting professionals, NRIs, and high-net-worth individuals, the project is likely to witness strong demand and set new benchmarks in luxury housing.
This joint venture marks yet another milestone in Mumbai’s evolving real estate sector, where international collaborations are reshaping the skyline and offering homebuyers world-class living experiences.
