GIC digs deeper into Indian realty; invests Rs 126 bn in 8 months

GIC entered Indian real estate in 2005, when it did a deal with residential developer XS Real, a Chennai-based developer

Till two years earlier, the investor community said GIC, the Singapore government’s sovereign wealth fund, was a slow mover in Indian real estate. Not now; it has signed deals worth Rs 126 billion over the past eight months in the segment. 

After a Rs 90-billion deal with DLF late last year, GIC signed a deal with Prestige Group’s rental arm for Rs 26 billion  in February. Last week, it signed a Rs 10-billion deal with Godrej Properties, wherein the investment firm managed by GIC took a minority stake.  

GIC entered Indian real estate in 2005, when it did a deal