GIC acquires minority stake in Indian real estate developer
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Nisha Ramchandani
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Singapore
SOVEREIGN wealth fund GIC is scooping up a significant minority stake in Indian developer Provenance Land, which owns a mixed-use development in central Mumbai, the company said on Wednesday.
The development is situated on over four acres of prime freehold land in Worli, Mumbai. It comprises the 202-room luxury Four Seasons Hotel Mumbai; the 41-unit Four Seasons Private Residences Mumbai, which is under construction, and a proposed Class A office tower. A wholly-owned unit of Provenance Land will manage the development.
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