GIC, Brigade to invest S$309m in south Indian property sector
[NEW DELHI] Indian developer Brigade Enterprises and Singapore's sovereign wealth fund GIC have agreed to jointly invest 15 billion rupees (S$309 million) in residential real estate projects in south India, the companies said.
Brigade and GIC will invest in acquiring land and building homes and for mixed-use projects, the companies said in a statement on Monday.
Sovereign wealth funds and other long-term investors are eyeing opportunities in India's real estate sector, as property prices continue to drop on the back of the slowest economic growth in a decade for the country.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further, as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million
US 30-year mortgage rate rises to five-month high of 7.24%