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SG Temasek to invest in India property fund

Property Here - Wednesday, July 03, 2013

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Investment company Temasek Holdings, owned by the Government of Singapore Investment Corporation (GIC), has committed to invest in a US$500 million (S$635.6 million) property fund run by India's HDFC Property Fund.

According to media reports, Temasek, together with Oman's State General Reserve Fund, has committed US$200 million (S$254.25 million) into the property fund.

While the parties involved remain silent on the deal, reports stated that HDFC Property Fund will announce the fund's first close by the end of this month or in the middle of August. The remaining US$300 million (S$381.36 million) will be raised in December, a source noted.

Launched last year, the seven-year fund exclusive to overseas investors will invest in Indian residential projects and is looking at an annual return of 23 or 24 percent.



Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg