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Transactions - FEBRUARY 19, 2020

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GIC frontrunner to buy tech park from Mapletree

by Andrea Zander

Singapore sovereign wealth fund GIC is the frontrunner to acquire Mapletree Investments’ Global Tech Park in Bengaluru for around Rs 2,500 crore ($35 million) in what would be the largest private equity exit to date in India’s commercial real estate space, reported the Economic Times, sourcing two people familiar with the negotiations.

Global Tech Park is an integrated mixed-use project with developable area of 15 acres, or 2.5 million square feet, at Marathahalli Outer Ring Road. Big corporates operating from the property include Vodafone and LinkedIn.

 

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