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

11 Mar 2026

Kumar Corp Launches Plumeria Project In Bengaluru

Kumar Corp has launched Kumar Plumeria, a premium residential development near KIADB Aerospace Park in Bengaluru. The project comprises six residential towers offering 3.5 BHK, 3.5 BHK with staff and 4.5 BHK with staff residences designed with expansive balconies, natural ventilation and landscaped surroundings. The development features saleable areas ranging from about 2,680 sq. ft. to 3,070 sq. ft. and is planned as a low-density community with around 100 residences. The project integrates a landscape master plan that includes open green spaces, community zones and recreational amenities. ..

Blum India Launches Blum Club App

Blum India has introduced the Blum Club app, a loyalty platform designed for carpenters and contractors to recognise and reward their role in furniture installation and interior construction. The app allows users to scan QR codes on Blum product packaging to collect points linked to purchases. These points can be redeemed directly as monetary transfers to bank accounts through the platform’s redemption system. Neelam Shah, Head of Marketing and Communications at Blum India, said the initiative is aimed at recognising the contribution of craftsmen who install hardware products in residentia..

Enlight Metals Launches Waste Free Steel Procurement Model

Enlight Metals has introduced its Waste Free Steel (WFS) initiative, aimed at transforming steel procurement through precision-driven sourcing and advanced material planning. The programme seeks to reduce steel wastage by 8–10 per cent in infrastructure and EPC projects by shifting procurement practices from volume-based buying to drawing-based supply aligned with engineering requirements.The initiative is powered by Enlight Metals’ Agentic AI–enabled metal procurement platform, which enables project teams to submit technical drawings and material specifications for detailed analysis. Ba..