GIC and Xander Acquire Hyderabad's WaveRock IT SEZ for Rs 22 Billion
This significant deal marks a major milestone in the Indian real estate market
GicXanderWaverockHyderabadIt SezIndian Real Estate MarketReal EstateMay 30, 2024
WaveRock, spread over 12 million square feet, is one of the largest IT SEZs in India, hosting several leading IT and ITES companies. The deal is a testament to the growing confidence of global investors in the Indian real estate market, particularly in the commercial sector.
GIC, which has been actively investing in India's real estate sector, sees immense potential in the country's growing economy and rapid urbanization. The investment in WaveRock is a strategic move to diversify its portfolio and capitalize on the increasing demand for quality office spaces.
Xander, which has a significant presence in India, has been bullish on the country's real estate market. The private equity firm has been actively investing in various asset classes, including commercial and residential properties.
The acquisition of WaveRock is a significant deal in the Indian real estate market, demonstrating the growing appetite of global investors for quality assets in the country. The deal is expected to pave the way for more such investments in the sector, driving growth and development in the Indian economy.
The Indian real estate market has been witnessing significant growth in recent years, driven by rapid urbanization, growing economy, and increasing demand for quality office spaces. The commercial sector, in particular, has been booming, with several global investors showing interest in acquiring quality assets in the country.
GIC is a global investment firm established in 1981 to manage Singapore's foreign reserves. The firm has investments in over 40 countries across various asset classes, including real estate, equities, and fixed income.
Xander is a global private equity firm focused on investments in emerging markets. The firm has a significant presence in India, with investments in various asset classes, including real estate, infrastructure, and private equity.
Frequently Asked Questions
Who acquired WaveRock IT SEZ? A: GIC and Xander jointly acquired WaveRock IT SEZ Q: What is the deal value of WaveRock acquisition? A: The deal value is Rs 22 billion Q: What is WaveRock IT SEZ? A: WaveRock is a premier IT SEZ located in Hyderabad spread over 12 million square feet Q: Why did GIC and Xander acquire WaveRock? A: The acquisition is a strategic move to diversify their portfolio and capitalize on the increasing demand for quality office spaces Q: What does this deal signify for the Indian real estate market? A: This deal marks a major milestone in the Indian real estate market showcasing the growing confidence of global investors in the country's commercial sector
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