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Hines India markets 50% stake in office tower

Hines India Real Estate Pvt. Ltd. is selling its 50% interest in an office tower in India, with the real estate firm having started short-listing consultants for the sale, Mint (New Delhi) reported, citing an emailed statement from the seller.

The sale of One Horizon Center in Gurugram is expected to fetch about 7.00 billion rupees to 8.00 billion rupees for Hines, according to two unnamed property consultants cited by the publication.

Local developer DLF Ltd. holds the remaining half stake in the 800,000-square-foot property, which is part of a two-building complex.

As of June 7, US$1 was equivalent to 67.36 rupees.