GIC to infuse Rs 2,800 crore in Bengaluru’s Bhartiya city

21 Feb 2022 CW Team

Singapore's sovereign wealth fund, GIC, is in discussions with the Bhartiya Group to infuse Rs 2,800 crore in its commercial project in Bengaluru.

The agreement will witness GIC acquiring 3 million sq ft of commercial assets in Bhartiya City, a 125-acre township project, from the builder, along with some revenue from its facility management business. The money will be utilised by the Bhartiya Group to repay part of its debt on commercial property that accommodates companies like IBM and Infosys.

There is a debt of more than Rs 1,000 crore against the commercial development. GIC is presently doing due diligence on the assets and will additionally acquire some other commercial buildings once achieved and leased.

For GIC, this is the second-largest agreement in South India this year. The fund, together with the Brigade Group, is additionally in the final stage of purchasing 5.5 acres of prime real estate along Chennai's iconic Mount Road (Anna Salai) belonging to the TVS Group in a deal valued at over Rs 550 crore.

GIC is very aggressive in the market and is looking to further boost its commercial portfolio. The Brigade agreement is also anticipated to close shortly. GIC is the world's sixth-largest sovereign wealth fund with $440 billion in assets under management. The company has lately funded over Rs 5,500 crore in Reliance Retail Ventures.

Image Source

Also read: MahaRERA issues order to provide certificates to realty authority

Real Estate

01 Dec 2025

Serene, Gardencity to Develop Rs 3 Billion Senior Living Project in Bengaluru

Serene Communities, a leading senior living brand, has partnered with Gardencity Realty to develop a premium senior living community in Budigere, one of Bengaluru’s fastest-growing residential micro-markets. The project will span approximately 300,000 sq ft, with a Gross Development Value of about Rs 3 billion, and will add roughly 250 senior-friendly residences to the city’s growing retirement housing segment.The launch forms part of Serene Communities’ national expansion strategy. The company has 11 new projects under development with a planned investment of Rs 25 billion that will add..

Alliance City Developers Marks Major 2025 Milestones in Vile Parle

Alliance City Developers Realtors has announced significant project milestones and expansions in 2025, underscoring what the company terms a transformational year. The developer completed multiple residential projects and launched two premium developments in Vile Parle (East), one of Mumbai’s most sought-after neighbourhoods.During the year, Alliance Legacy in Matunga (East) received its Occupancy Certificate (OC), while Alliance Eternis in Borivali (West) and Alliance Vista in Vile Parle (East) were granted Completion Certificates (CC), marking final project delivery. Alliance Abhimanyu is ..

Moro Hub and PwC Middle East Partner to Accelerate Smart City Solutions

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), has announced a strategic collaboration with PwC Middle East to advance Smart City, Integrated Command Centre (ICC), Critical Infrastructure Monitoring and Internet of Things (IoT) initiatives across the region. The partnership brings together Moro Hub’s digital infrastructure and IoT capabilities with PwC’s global expertise in digital trust, smart city strategy and cybersecurity to support the UAE’s vision for intelligent and sustainable cities.“Our collaboration with PwC Middle Ea..