| Singapore's sovereign wealth fund GIC is in talks with Gurgaon-based realty developer Vatika Group to form an exclusive alliance to invest in residential and commercial properties in north India. GIC is looking to infuse around $150 million in this platform in addition to its recent investments in two residential projects of Vatika Group in Gurgaon, said two persons familiar with the development.
In December, GIC had invested Rs 150 crore in a joint venture with Vatika Group to develop two projects with a development potential of over 2.3 million sq ft in Gurgaon. GIC is betting big on the Indian real estate market and has been actively scouting for assets. In December, the fund had signed an agreement to acquire a 39% stake in Nirlon that owns 3.3-million-sq-ft IT park in the Goregaon suburb of Mumbai...............................................Full Article: Source
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