Hines Real Estate in talks with GIC, CapitaLand to sell Mumbai property

Singaporean sovereign fund GIC, CapitaLand (from the same country), and others are in separate talks with Hines Real Estate — the Indian arm of US-based investment firm Hines — for a forward purchase agreement of commercial property in the Kanjurmarg area of Mumbai. The deal size is expected to be around Rs 2,000 crore.  In a forward purchase agreement, a buyer pays an advance to the seller to buy property at a later date. The property, spread over 4 acres, has a development potential of 1.3 million square feet (sq ft). It will be the first big commercial property deal o.....

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