The ancient Chinese curse, 'May you live in interesting times,' certainly has a lot of pertinence to the Indian real estate today. These are doubtlessly the interesting times for the sector, which has transformed significantly over the last decade.
Tag: GIC
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New Gurgaon sees rise in PE investors
Over the past 15 months, New Gurgaon, which is an area between Manesar and old Gurgaon, has seen investments in real estate projects by several private equity funds. Singapore sovereign wealth fund GIC recently put in Rs 150 crore in a joint venture with realty firm Vatika group to develop two projects in this area of Gurgaon.
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GIC may run reinsurance fund
Media reports indicate that General Insurance Corporation of India would run a Rs 20 billion fund to support local insurers who cover refineries processing Iranian crude oil. The fund would get an annual contribution of up to Rs 20 billion from Indian insurers and the oil ministry.
The money will come from the premiums normally paid by insurers for reinsurance cover.
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GSPC in talks with GIC
Gujarat State Petroleum Corp (GSPC) is in talks with the Government of Singapore Investment Corporation (GIC), for raising funds, a top company official said.