Singapore’s GIC invests $300m in India JV
India’s realty firm DLF has entered into a joint venture with Singapore GIC, which will invest $300 million in two projects located in Central Delhi. It was not disclosed how much a stake GIC will acquire in the joint venture with DLF.
The deal is one of several by GIC in India. At the end of 2014, GIC purchased a controlling stake in Mumbai-based real estate firm Nirlon for approximately $200 million. And it entered into a joint venture with Indian firm Vatika Group to develop two residential projects in the suburbs of Delhi.
In March 2015, one of India’s leading real estate developers, Brigade Group, has acquired Brooke Bond Real Estate as part of its joint venture with GIC. The venture, Brigade Properties, will develop an IT Special Economic Zone of more than 3 million square feet near