US-based realty firm Hines announced a tie-up with a global fund is set to invest US$250 million in various housing projects in India with an aim to tap the huge demand for mid-income homes. Announcing its foray into the housing segment, Hines country head & senior managing director Yash Gupta said they have formed a joint venture with an international finance company to invest in residential development in India with an initial capitalization of US$250 million. The first housing project is likely to be announced in January-March quarter and investment in a single project could be in a range of Rs.300-500 crore. Hines is also developing another commercial project ‘Skyview Corporate Park´ in phases on a 21-acre site owned by Shyam Telecom. In the first phase, Hines has completed 0.5 million sq ft, which is almost leased out. Another 1.5 million sq ft would come up in phases in this project.