Bengaluru, June 5 -- US-based global developer and investment manager Hines and Japan's Sumitomo Corp. have entered into a joint venture for a luxury condominium project in the high-value Mumbai property market.

In India, this project marks Hines' entry into the Mumbai residential market as a developer, Amit Diwan, senior managing director and head of India at Hines, said.

The project, which will be developed in suburban Mumbai's Powai locality, is yet to be launched. Hines is the developer and equity investor in the project and manages day-to-day development activities in collaboration with Sumitomo, which is also an equity investor.

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