GIC inks JV to develop two residential properties in India

Its partner is Vatika Group.

GIC has inked a joint venture agreement with Vatika Group to develop two residential projects in India. The projects will be located on Dwarka Expressway, Gurgaon.

The projects will meet the demand for high-quality residential units and will be developed by Vatika. They are expected to be completed by financial year 2018-19 and are expected to generate revenues in excess of $418.4m (Rs. 20b).

The projects, with development potential at over 2.3 million sq ft, are located within five kilometers of the 120-hectare Vatika Express City and the 250-hectare Vatika India Next integrated townships.

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