Singapore’s GIC in property purchases

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Last month Singapore’s sovereign fund, GIC, and Indian real estate developer Brigade Group jointly acquired a 16-acre property in Perungudi, a commercial corridor in Chennai. They purchased the property from Kansai Nerolac Paints for ₹537.86 billion (US$8 billion).

Working_on_blueprintsGIC and Brigade made the acquisition through Perungudi Real Estates, a special purpose vehicle.

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