SAMHI and GIC form Rs 22 billion hotel JV platform in India

24 Apr 2025 CW Team

SAMHI Hotels and global institutional investor GIC have announced a strategic joint venture to establish an Upscale+ hotel investment platform in India, with an equity investment plan of up to US$300 million. The venture will be launched with five seed assets valued at around Rs 22 billion, located in Bengaluru and Pune.

These include Hyatt Regency Pune (301 rooms, plus 22 upcoming apartments), Courtyard by Marriott and Fairfield by Marriott on Bengaluru’s Outer Ring Road (176 and 160 rooms respectively), and Trinity Hotel in Whitefield, Bengaluru (142 rooms), which will be repositioned under Marriott’s Tribute Portfolio. An additional 220-room Westin Hotel under development will also be integrated with Trinity.

GIC will acquire a significant minority stake in the SPVs owning these assets. The funds will be deployed for capital expenditure, future acquisitions, and deleveraging.

SAMHI will continue to manage both operational and development assets.

Ashish Jakhanwala, CEO & Managing Director, SAMHI, said, “In addition to helping us strengthen our balance sheet, this partnership gives us tremendous firepower to grow our portfolio.”

Morgan Stanley advised SAMHI exclusively on the deal.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..