Government of Singapore Investment Corporation subsidiary, GIC Real Estate, is planning big on realty ventures and investments on realty in India.
As per the source saying @ the www.propertykhazana.com GIC Real Estate is said to be the most key player specifically the investments, the Govt. Of Singapore undertaking firm is familiar with the real estate in over 30 countries and has so far invested in about 200 projects globally and the investment portfolio has crossed some million dollars.
It is also reported by the source @ the www.propertykhazana.com that GIC is considering closing 2 private equities in the current financial quarter. Further it is planning to enter the hospitality division which is equally potential and as an indication RECO Hotel, partner of GIC Real Estate has signed a JV with Host Hotels & Resorts of America further to invade India and other Asian nations. As per to the agreement signed it is said to be USD 600 Million in JV with predicted pull making USD 1.5 – 2 Billion.
Speaking at the www.propertykhazana.com spokesperson for GIC Real Estate said that the investments will continue in the developing and developed realty markets and with priority to the hospitality sector in Asia. Similarly, a report from the Venture Intelligence said that almost USD 300 million is invested in Indian hospitality ventures in the current year which is double the investment made in the last year.
The revealed information says that Leela Hotels & Resorts, Lemon Tree others had previously captivated private equity from funds like IDFC and Kotak, While the Bangalore origin Royal Orchid Hotels anticipated to close Rs. 600 crores PE by the end of the financial quarter. Puravankara Projects is likely to follow the foot steps of Royal Orchid Hotels to carve a niche in the hospitality sector. It is also added at the www.propertykhazana.com that another key investment player Hypo has forayed into the Indian realty segment and is funding in the hospitality sector and some experts said that Hypo has poured Rs. 600 crores on the JV between Shriram Properties and Tanglin Development.
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