milind20
Milind Gandhi
New Park Hyatt in Marine Lines to be designed by Times Square architects
MUMBAI’S skyline could soon rival Manhattan’s. Coming up in Marine Lines is south Mumbai’s first large five-star hotel in the past 30 years. The Hyatt hotel is being designed by international hotshot architects, Fox & Fowles, designers of the iconic Conde Nast and Reuters Buildings, as well as Nasdaq’s landmark corner market site with its giant electronic display in Times Square.
We don’t know exactly how tall this one’s going to be, but if No 4, Times Square is any indication, expect it to loom over the rest of the Queen’s Necklace. “South Mumbai has had no new really large hotels since the Hilton, this will fill that need,” says Ashish Kalra, the New York-based managing director of Trikona Capital, one of the main investors in the project. Trikona is the asset manager for the AIM-listed Trinity Capital, which has invested and committed £196 million in India on real estate deals in the one year since its IPO.
The South Mumbai hotel project is part of a three luxury hotel project being developed by Neelkamal Realtors, in Mumbai, Pune and Goa. All three will be managed and operated by Hyatt. Neelkamal MMDPL is an SPV set up in partnership between Mumbaibased property developers Dynamix Balwas and Trinity Capital. Trinity has an investment of £11.9 million in the SPV.
While the hotels in Goa and Pune are under construction, the land has been vacated and pre-construction planning and soil-testing have been completed for the Mumbai project. Hyatt already has two hotels in city suburbs. The hotels in Pune and Goa are being designed by international architects Buro Happold for Pune and GA Design in Goa.
The swank new hotel is South Mumbai is just one of Trinity’s showcase investments. “Many foreign investors come and take a look at India, and then complain that real estate has a lot problems, with titles, with regulations and so on. Our strategy is to build a network of sustainable partnerships that will give us a steady flow of deals, along with a strong team of our own with expertise across sectors like hospitality, infrastructure, roads, healthcare and retail,” says Mr Kalra.
Trinity has a JV with IL&FS, stakes in Fortis and Pipavav Shipyard, and investments in projects with Lokhandwala, Rustomjee Township, Uppals, and Manjeera in the south. The fund, which raised £250 million in April 2006, has recently announced that it has reached full investment ahead of schedule, and has a portfolio of 11 investments with a total development potential of 31 million sqft.
The fund’s most recent deal was also with Dynamix Balwas, where it picked up a 5.92% stake in DB Realty, a £500 million SPV that is part of the Dynamix Balwas group for £25.72 million, to develop 12 real estate projects in central and outer Mumbai.
As per the website http://www.fxfowle.com/
CLIENT : Park Hyatt
LOCATION : Mumbai, India
GROSS AREA : 882,000 sq ft
FXFOWLE's Park Hyatt tower centers on creating an iconic residential mixed-use building within India's emerging new economy. The 82-storey tower is informed by distinctive indoor/outdoor environments and the desire to optimise the panoramic views of the surrounding landscape. The towers rotated form emerges in response to the buildings functional requirements and its mixed-use program - which changes with each twist of the structure. This circulation pattern separates retail, 5-star hotel and serviced apartments and long lease duplex penthouse condominium apartments within a sustainable network of green roofs and hanging gardens; creating a singular, extraordinary building that, when completed, will be the tallest and greenest building in India.
MUMBAI’S skyline could soon rival Manhattan’s. Coming up in Marine Lines is south Mumbai’s first large five-star hotel in the past 30 years. The Hyatt hotel is being designed by international hotshot architects, Fox & Fowles, designers of the iconic Conde Nast and Reuters Buildings, as well as Nasdaq’s landmark corner market site with its giant electronic display in Times Square.
We don’t know exactly how tall this one’s going to be, but if No 4, Times Square is any indication, expect it to loom over the rest of the Queen’s Necklace. “South Mumbai has had no new really large hotels since the Hilton, this will fill that need,” says Ashish Kalra, the New York-based managing director of Trikona Capital, one of the main investors in the project. Trikona is the asset manager for the AIM-listed Trinity Capital, which has invested and committed £196 million in India on real estate deals in the one year since its IPO.
The South Mumbai hotel project is part of a three luxury hotel project being developed by Neelkamal Realtors, in Mumbai, Pune and Goa. All three will be managed and operated by Hyatt. Neelkamal MMDPL is an SPV set up in partnership between Mumbaibased property developers Dynamix Balwas and Trinity Capital. Trinity has an investment of £11.9 million in the SPV.
While the hotels in Goa and Pune are under construction, the land has been vacated and pre-construction planning and soil-testing have been completed for the Mumbai project. Hyatt already has two hotels in city suburbs. The hotels in Pune and Goa are being designed by international architects Buro Happold for Pune and GA Design in Goa.
The swank new hotel is South Mumbai is just one of Trinity’s showcase investments. “Many foreign investors come and take a look at India, and then complain that real estate has a lot problems, with titles, with regulations and so on. Our strategy is to build a network of sustainable partnerships that will give us a steady flow of deals, along with a strong team of our own with expertise across sectors like hospitality, infrastructure, roads, healthcare and retail,” says Mr Kalra.
Trinity has a JV with IL&FS, stakes in Fortis and Pipavav Shipyard, and investments in projects with Lokhandwala, Rustomjee Township, Uppals, and Manjeera in the south. The fund, which raised £250 million in April 2006, has recently announced that it has reached full investment ahead of schedule, and has a portfolio of 11 investments with a total development potential of 31 million sqft.
The fund’s most recent deal was also with Dynamix Balwas, where it picked up a 5.92% stake in DB Realty, a £500 million SPV that is part of the Dynamix Balwas group for £25.72 million, to develop 12 real estate projects in central and outer Mumbai.
As per the website http://www.fxfowle.com/
CLIENT : Park Hyatt
LOCATION : Mumbai, India
GROSS AREA : 882,000 sq ft
FXFOWLE's Park Hyatt tower centers on creating an iconic residential mixed-use building within India's emerging new economy. The 82-storey tower is informed by distinctive indoor/outdoor environments and the desire to optimise the panoramic views of the surrounding landscape. The towers rotated form emerges in response to the buildings functional requirements and its mixed-use program - which changes with each twist of the structure. This circulation pattern separates retail, 5-star hotel and serviced apartments and long lease duplex penthouse condominium apartments within a sustainable network of green roofs and hanging gardens; creating a singular, extraordinary building that, when completed, will be the tallest and greenest building in India.