Though they are not together as a couple, the actor claims that the two are great friends even today.
The fitness brand, which will allow people to come and walk or jog at the property without paying any money, will be launched Sunday in Worli Seaface.
"Bipasha is a fantastic human being. She has always been there for me and even I have always been there for her," Dino, who dated her in the late 1990s and even worked with her in the hit movie "Raaz", told IANS.
"I share a very great relationship with her right now. Yes, we were dating each other at one point of time and people tend to overlook it at the other way. We are very close to each other and we share a very strong bond."
After dating for about five years, the two drifted apart and Bipasha started dating John Abraham. However, she broke up with John as well.
When asked why he asked Bipasha to launch the fitness brand, Dino said: "Bipasha is known for her fitness. I wanted someone who has got enough knowledge about it. She is fantastic and she can talk about it."
Dino's fitness centre is free for health conscious people.
"I am very excited about it. I want to give something back to my city. People who can't afford gym, can walk here, which is for free of cost. We give the people an opportunity to exercise. It's a functional training," said the 37-year-old who has been part of filmdom since 1999, when his first film "Pyaar Mein Kabhi Kabhi..." came out.