Hines Realigns Global Leadership: Amit Diwan Tapped to Lead Asia Pacific and Middle East Expansion

In a significant strategic realignment, global real estate powerhouse Hines has appointed Amit Diwan, the veteran head of its India operations, to oversee its consolidated Asia Pacific and Middle East business divisions. This leadership transition underscores the Houston-based developer and fund manager’s commitment to synchronizing its operations across two of the world’s most high-growth real estate markets.

By merging the oversight of the Asia Pacific (APAC) and Middle East regions, Hines is positioning itself to streamline cross-border capital deployment and enhance operational efficiency. As institutional investors increasingly demand regional, cohesive investment strategies, the firm’s move reflects a broader industry trend toward unified geographical management.

A Strategic Leadership Transition

Amit Diwan, who has been instrumental in establishing Hines as a dominant force in the Indian market since 2018, will now step into the role of regional lead for APAC and the Middle East. Diwan’s promotion follows a tenure defined by explosive growth in the Indian subcontinent, where he successfully navigated the complexities of office, residential, and mixed-use development.

The transition sees Jon Tanaka, the outgoing APAC head, moving into a specialized role as Senior Managing Director for Strategic Projects in Japan and South Korea. Tanaka, a bilingual Harvard graduate who joined Hines in 2021, is credited with scaling the firm’s Japanese portfolio to over $2 billion in assets. His pivot to a focused regional role is intended to ensure continuity in these critical markets while allowing him to mentor the next generation of leadership and bolster high-stakes client relationships.

The Architect of the India Platform: A Chronology of Success

To understand why Hines has entrusted its regional future to Amit Diwan, one must examine his trajectory within the firm. Diwan joined Hines in 2015 as the Chief Investment Officer for India, quickly distinguishing himself as a master of both domestic capital raising and international institutional partnerships.

2015–2018: The Foundational Years

Before joining Hines, Diwan gained extensive experience establishing GE Real Estate’s operations in Singapore, subsequently expanding that footprint across Thailand, the Philippines, Malaysia, and Vietnam. This pan-Asian experience served as the bedrock for his eventual success at Hines. Upon joining the firm, he focused on building a scalable platform from the ground up, navigating the notoriously complex Indian regulatory and development landscape.

2018–2024: Scaling to New Heights

Elevated to Managing Director and Country Head in 2018, Diwan oversaw a period of rapid institutionalization. Under his leadership, Hines India grew its presence to five major cities, building a diverse portfolio of over 20 million square feet of space. His ability to secure capital—reaching $1.1 billion in assets under management—cemented his reputation as a "platform builder."

Key milestones during this period include:

• The Pioneer Urban Venture: A $180 million office project in Gurugram, designed to provide 1.25 million square feet of prime commercial space.
• Birla Cotton Mills: The redevelopment of a historic Delhi site into a 3-million-square-foot residential and retail complex.
• Mumbai Expansion: A multi-party venture in the Greater Bandra Kurla Complex involving Mitsubishi Estate and Sumitomo Corporation, delivering a 1.5-million-square-foot trophy office tower.

Supporting Data: The Regional Portfolio

The scale of the operation Diwan inherits is significant. Hines currently operates across six countries in the Asia Pacific region, spanning 14 major cities. In the Middle East, the firm has already established a footprint with a Dubai office (opened in 2020) and is actively planning an expansion into Riyadh.

Investment Highlights (2023–2025)

The firm’s recent transaction history highlights a aggressive "buy-and-lease-up" strategy across the region, which Diwan is expected to continue:

• Seoul: The $235 million acquisition of the Hanssem headquarters.
• Sydney: A $605 million joint venture with Haben to acquire the Westpoint Shopping Centre.
• Singapore: A $332.4 million (S$428 million) acquisition of Bukit Panjang Plaza from CapitaLand Integrated Commercial Trust.
• Tokyo: The successful turnaround and exit of the Zenith Minami Shinjuku office building, which was sold to LaSalle Investment Management after a successful lease-up campaign that took the asset from 20% to full occupancy.

Official Responses and Strategic Vision

The leadership at Hines has been vocal about the intent behind this consolidation. Steve Luthman, the global head of real estate at Hines, emphasized the synergy between Diwan’s past performance and the firm’s future objectives.

"Asia Pacific and the Middle East are central to Hines’ long-term growth strategy," Luthman stated in a press release. "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."

For his part, Diwan remains focused on the "disciplined growth" that has been a hallmark of the firm’s global success. "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 remarked. "Our focus will remain on local market excellence and the long-term partnerships that have always defined Hines."

Jon Tanaka echoed these sentiments, expressing his commitment to his new, more concentrated focus: "It has been a privilege to help lead Hines’ Asia Pacific platform, and I look forward to supporting Amit and the firm as we deepen our roots in the Japanese and South Korean markets."

Implications for the Future of Hines in the Region

The consolidation of the APAC and Middle East regions under a single leader signals three key strategic shifts for Hines:

1. Unified Capital Flow

By integrating these two regions, Hines is likely looking to facilitate easier capital movement between Middle Eastern sovereign wealth funds and Asian development opportunities. The Middle East remains a vital source of global liquidity, and having a regional lead who understands both the investment appetite of Gulf-based investors and the development requirements of Asian cities creates a natural synergy.

2. Operational Standardization

Hines has long prided itself on a "local expertise, global standard" approach. Diwan’s background suggests that he will focus on standardizing the firm’s development playbook across the region, ensuring that the high-quality outcomes achieved in India are mirrored in the firm’s upcoming Riyadh and expanded Japan projects.

3. Resilience Through Diversification

The real estate market in Asia Pacific is currently experiencing a period of volatility, with varying interest rate environments and office occupancy trends. By combining the mature, yield-focused markets of Japan and Singapore with the high-growth residential and commercial sectors in India and the Middle East, Hines creates a balanced portfolio. This geographic diversity acts as a hedge against localized economic downturns.

As Amit Diwan transitions into this broader mandate, the industry will be watching closely to see how he adapts his "platform-building" skills to a wider, more diverse set of markets. With his proven track record of managing high-profile partnerships with firms like Mitsubishi Estate and Sumitomo, he enters the role with the necessary diplomatic and technical skills to navigate the complexities of a multi-jurisdictional portfolio.

For Hines, the message is clear: the future is regional, and the firm is betting on its most successful regional leader to drive its next phase of global expansion.