02.01.2015 - Singapore Wealth Fund GIC Bets on India Real Estate
In a sign that Indian real estate is back on the map for international investors, Singapore’s sovereign wealth fund is making a second bet on the sector in a month. GIC Pte. Ltd., with over $100 billion of assets under management, said that it plans to buy a controlling stake in Mumbai-based real estate firm Nirlon Ltd. for around $200 million, according to a press release late Tuesday. Earlier this month, GIC had entered into a joint venture with Indian firm Vatika Group to develop two residential projects in the suburbs of Delhi. “GIC is confident of India’s growth potential over the long term,” Loh Wai Keong, co-head Asia at GIC Real Estate, had said in a statement at the time...............................................Full Article: Source
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