GIC, a leading global investment firm of Singapore, is set to become a major player in the country’s office property market, with its move to buy a stake in rental arm of Bengaluru-based Prestige Estates.
With this deal, GIC is set to own 42 million sq ft of office properties. It owns 40 per cent in DCCDL, the rental arm of DLF, which has an office portfolio of 27 million sq ft. GIC also owns Nirlon IT Park in Mumbai’s Goregaon, which has an area of five million sq ft.
With 70 million sq ft, Blackstone and its partners are the largest