Satish John

MUMBAI (DNA): Hines, the U.S. company that built the Bank of America Center in Houston, and the Government of Singapore Investment Corp. (GIC) plan to invest more than $1 billion in Indian real estate to benefit from rising demand for homes, offices and shopping plazas. Hines may invest as much as $1 billion in residential and commercial property as well as so-called special economic zones, Managing Director Daniel MacEachron said in an interview in Mumbai today.

GIC, as the Singapore fund management company is called, plans to bring in "a few hundred million dollars," said Seek Ngee Huat, president of GIC Real Estate Pte. GIC has identified projects in the cities of Mumbai, Pune and Chennai in which it will invest, said Seek.

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Posted by rjorr at September 21, 2006 8:10 AM