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.