Singapore's GIC forms JV to invest in India office project

Singapore sovereign wealth fund GIC has formed a 50-50 joint venture with Tishman Speyer to invest in the developer's office project in the southern Indian city of Hyderabad, the firms said in a joint statement.

PHOTO: BLOOMBERG

OCT 22, 201510:43 AM

[SINGAPORE] Singapore sovereign wealth fund GIC has formed a 50-50 joint venture with Tishman Speyer to invest in the developer's office project in the southern Indian city of Hyderabad, the firms said in a joint statement.

They did not disclose a deal value.

The total buildout for the development, whose final phase is expected to be completed over the next two years, will be 2.5 million square feet.

The deal is one of several by GIC in India this year, including its US$300 million investment in a new joint venture with Indian developer DLF.

REUTERS