Singapore’s GIC buys significant minority stake in Provenance Land

Singapore’s GIC buys significant minority stake in Provenance Land

Photo: Mint

In its first investment in a mixed-used development project in India, Singapore-based sovereign fund GIC Pte. Ltd is set to buy a significant minority stake in real estate firm Provenance Land Ltd, which has built the Four Seasons hotel in Mumbai. The capital from the stake sale would be deployed in developing the Mumbai-based firm’s mixed-used project spread across 4.5 acres in Worli, central Mumbai.

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