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Hines - Goel Ganga Corporation, Transaction Advisory in Kharadi, Pune, India

Goel Ganga Corporation is a well-established name in residential development in Pune and has delivered over 30 M SF. The client wanted to enter commercial office space development & create a new benchmark in the industry. Goel Ganga Corporation owned a prime land parcel of 43 acres in Kharadi, Pune with a development potential of 7 M SF of built up area. 


Goel Ganga Corporation wanted to develop a marquee asset to create a landmark in the market and compete with the established commercial developers. The group had never developed large scale commercial projects which was a major challenge to achieve the above objective. Also, they wanted to retain the entire project and wanted to participate in the entire development cycle. 


Cushman & Wakefield’s Capital Markets team, after fully understanding the group’s requirement, suggested Development Management partnership with a US based realty firm Hines. Hines was already exploring options to enter commercial segment in Pune. Considering the individual strategic objectives of the both firms, the partnership was a perfect synergy.  


Cushman & Wakefield team facilitated bringing both the partners together with a common goal of building a marquee project in Kharadi, Pune. In this partnership, Goel Ganga Corporation contributes their deep local expertise with respect to market knowledge & Hines brings its world-class development experience, including design, construction, leasing and asset management. Development Management Agreement has been signed on June 2021 & the project is currently in design stage for Phase 1 of 2.4 M SF. 


Meet the team

Saurabh Bakliwal Senior Associate Director (image)
Saurabh Bakliwal

Pune, India

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Saurabh Shatdal

Managing Director, Capital Markets

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Contact us to discuss how our experience on this project could be translated to your business requirements.

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