Singapore’s GIC forms Joint Venture with Tishman Speyer to invest in Indian office project [ Current News (Concise) ]
About GIC: GIC is stands for Government Investment Corporation. GIC Private Limited is formerly known as Government of Singapore Investment Corporation. It is an independent wealth fund recognized by the Government of Singapore in 1981 to manage Singapore’s foreign investments.
- On 22nd May 1981, Goh Keng Swee who was the first Deputy Prime Minister and Chairman of the Monetary Authority of Singapore advised by a foreign merchant bank named N. M. Rothschild & Sons to establish the GIC.
- Its mission is to reservation and increase the international purchasing power of the assets.
- It has nine offices in main economic capitals all over the world which are GIC invests internationally in equities, fixed income, money - market instruments, real estate and special investments.
- Its management of investment collection is done by its three firms named
- GIC Asset Management Pte Ltd which is public markets,
- GIC Real Estate Pte Ltd
- GIC Special Investments Pte Ltd which is private - equity investments.
About Tishman Speyer:
- Tishman Speyer is a real estate construction and operational company established by two partners Robert Tishman and Jerry Speyer in 1978.
- Tishman Speyer’s properties include well - known structures like New York City’s Chrysler Building, Rockefeller Center and City Spire Center.
- Universally, Tishman owns Sao Paulo’s North Tower.
- Earlier, they maintained London’s Mill bank Tower and they are currently the property manager of the building.
About the Joint Venture:
- Singapore based GIC has formed a joint venture with Tishman Speyer to invest in the developer’s office project in Hyderabad of southern Indian.
- The total build is expected to be completed over the next two years which will be 2.5 million square feet.
- GIC includes its $300 million investment in a new joint venture with Indian developer DLF.
- Published/Last Modified on: October 23, 2015