GIC Will Pay Rs 2,800 Crore For Three Million Square Feet in Bharatiya City, Bengaluru

The Bhartiya Group and Singapore's sovereign wealth fund, GIC, are in talks to invest Rs. 2,800 crore in a commercial project in Bengaluru.

GIC will acquire 3 million square feet of commercial space in Bhartiya City, a 125-acre township project, as well as revenue from its facilities management business, as part of the deal.

The funds will be used by the Bhartiya Group to pay off a portion of its debt on commercial property where companies like IBM and Infosys are located.


More about Bhartiya City

Bangalore's Bhartiya City is a 125-acre integrated smart megacity. The City of Joy, located near Hebbal, Bangalore, is India's largest integrated township.