Hines has promoted India chief Amit Diwan to lead its Asia Pacific and Middle East businesses as the US developer and fund manager combines oversight of two regions targeted for long-term expansion.
“Asia Pacific and the Middle East are central to Hines’ long-term growth strategy,” said Steve Luthman, global head of real estate at Hines.
Under Diwan, Hines India expanded to five cities and built a portfolio of office, residential and mixed-use projects exceeding 20 million square feet (1.9 million square metres), with $1.1 billion in assets under management in the country.
Recent projects include a $180 million office development with Pioneer Urban in Gurugram, designed to provide 1.25 million square feet of space, and a residential-led complex on Delhi’s former Birla Cotton Mills site that is planned to yield 3 million square feet of condos and retail facilities.
The venture added to an earlier 900,000 square foot office development marking Hines’ entry to India’s commercial capital.
Hines has promoted India chief Amit Diwan to lead its Asia Pacific and Middle East businesses as the US developer and fund manager combines oversight of two regions targeted for long-term expansion.
Diwan, who has headed the India platform since 2018, will work with the firm’s market leaders to improve coordination and execution as investor requirements become increasingly regional and cross-border, Hines said Tuesday in a release. The privately held company operates in six APAC countries across 14 major cities, while its Middle East platform includes a Dubai office opened in 2020 and a planned Riyadh location.
Diwan takes over leadership of the APAC region from Jon Tanaka, who will become senior managing director for strategic projects in Japan and South Korea, focusing on expanding Hines operations in the two markets, strengthening client relationships and supporting the leadership transition.
“Asia Pacific and the Middle East are central to Hines’ long-term growth strategy,” said Steve Luthman, global head of real estate at Hines. “Amit brings a strong track record of leadership from India, one of our most dynamic platforms, and a clear understanding of how to build local teams, partner with capital, and deliver high-quality outcomes.”
Platform Builder
Diwan joined Hines in 2015 as chief investment officer for India and was elevated three years later to managing director and country head, taking responsibility for raising and deploying domestic and international capital across the office and residential sectors.
Before joining the Houston-based firm, Diwan established GE Real Estate’s Singapore operation and expanded the business across Thailand, the Philippines, Malaysia and Vietnam. He also set up Piramal Fund Management’s North India business after earlier roles with JLL and Singapore-based consultancy Marakon.
Under Diwan, Hines India expanded to five cities and built a portfolio of office, residential and mixed-use projects exceeding 20 million square feet (1.9 million square metres), with $1.1 billion in assets under management in the country.
Recent projects include a $180 million office development with Pioneer Urban in Gurugram, designed to provide 1.25 million square feet of space, and a residential-led complex on Delhi’s former Birla Cotton Mills site that is planned to yield 3 million square feet of condos and retail facilities.
In Mumbai, Hines last year teamed with Mitsubishi Estate, Sumitomo Corporation and local builder Kanakia Group on a 1.5 million square foot trophy office project in the Greater Bandra Kurla Complex. The venture added to an earlier 900,000 square foot office development marking Hines’ entry to India’s commercial capital.
“It is a privilege to take on this role at a moment when Asia Pacific and the Middle East are both entering a new phase of opportunity,” Diwan said. “Our focus will remain on disciplined growth, local market excellence, and the long-term partnerships that have always defined Hines.”
Growth Assignment
Tanaka joined Hines in 2021 as the firm’s first Japan head after more than a decade leading the real estate business in the country for US private equity firm Angelo Gordon. The bilingual Harvard graduate brought two decades of industry experience and a background investing across the region.
During his tenure as Japan chief, Tanaka helped grow Hines’ portfolio in the country to more than 30 office, residential and industrial assets valued at a combined $2 billion. He succeeded Ray Lawler as APAC head at the start of 2025, with former Nippon Prologis REIT investment chief Saiko Ishii later taking sole charge of the Japan platform.
Hines’ regional deal streak during the past two years included a $235 million purchase of furniture maker Hanssem’s Seoul headquarters and a $605 million joint acquisition of Sydney’s Westpoint Shopping Centre with Haben.
The firm also partnered with Mitsubishi Estate and Mitsui & Co on a Singapore warehouse acquisition, bought office and logistics properties in Tokyo and Greater Osaka and was identified this year as the buyer of Bukit Panjang Plaza from CapitaLand Integrated Commercial Trust for S$428 million ($332.4 million).
Earlier this month, Hines sold the 14-storey Zenith Minami Shinjuku office building in central Tokyo to LaSalle Investment Management, two years after acquiring the newly completed asset and leasing it from roughly 20 percent occupancy to full capacity. Financial terms of the off-market deal were not disclosed.
“It has been a privilege to help lead Hines’ Asia Pacific platform,” Tanaka said, adding that he looked forward to supporting Diwan and the firm in his new role.
