Shapoorji Pallonji Group Offloads Stake in Hyderabad Project for Rs 2
Shapoorji Pallonji Group has sold its stake in TSI Business Parks
Real EstateMarket TrendsHousingShapoorji Pallonji GroupGicReal Estate NewsMay 30, 2024
The Shapoorji Pallonji Group held its stake in TSI Business Parks through its Singapore-based joint venture real estate fund, SPREF II, which is co-owned with German insurer Allianz. SPREF II had acquired a controlling stake in TSI Business Parks in December 2019. TSI Business Parks owns Waverock, an IT special economic zone located in Gachibowli, Hyderabad, with a gross leasable area of approximately 2.4 million square feet.
The securities held by SPREF II in TSI Business Parks were purchased by a joint venture of global institutional investors. Although the exact amount of money flowing to the Shapoorji Pallonji Group remains unclear, this transaction is a significant milestone in Indian real estate.
Shapoorji Pallonji Group is a leading Indian business conglomerate with a diverse portfolio of businesses, including real estate, construction, and infrastructure. The group has a significant presence in the Indian real estate market, with several projects across the country.
GIC is a global investment firm established in 1981 to manage Singapore's foreign reserves. With a global portfolio spanning over 40 countries, GIC is a leading investor in real estate, private equity, and fixed income assets.
Frequently Asked Questions
What is the value of the stake sold by Shapoorji Pallonji Group? A: Rs 2 200 crore Q: Who acquired the stake in TSI Business Parks? A: Singapore's GIC Q: What is the gross leasable area of Waverock the IT special economic zone in Hyderabad? A: Approximately 2 4 million square feet Q: Who co-owns SPREF II with Shapoorji Pallonji Group? A: German insurer Allianz Q: What is the significance of this transaction in Indian real estate? A: One of the largest deals in Indian real estate for FY25
Answer not available
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