| Bangalore-based Brigade Enterprise has roped in Singapore’s sovereign wealth fund GIC (through its affiliate Reco Begonia) in a 51:49 private equity partnership to develop a residential project in Whitefield, Bangalore.
Both the realty developer and GIC will invest Rs 105 crore ($18 million) each in the SPV. The project will take another 12-15 months for approval. The said land parcel has been acquired from the FMCG major Hindustan Uniliver Ltd (HUL), which is looking to sell off its realty assets across the country. It has recently sold its erstwhile training centre called Gulita in Worli and also called for a bid to sell off its residential apartments across Mumbai...............................................Full Article: Source
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