Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
GIC, Xander buy Hyderabad IT SEZ WaveRock for Rs.2,200-Cr from Allianz-Shapoorji Pallonji JV
Singapore sovereign fund GIC and Xander Investment Management partnership has acquired a commercial property in Hyderabad from Allianz Group and Shapoorji Pallonji Group (SP Group) Joint Venture (JV) at an enterprise value of around INR 2,200 croreThe Allianz-SP Group JV entity - SPREF II Pte Ltd - has completed the sale of securities held in TSI Business Parks (Hyderabad) Pvt Ltd, the entity that has developed Waverock, a grade-A IT SEZ located in Gachibowli in Hyderabad with a gross leasable area of approximately 2.4 million square feet.In 2019, SPREF II had acquired the property from erstwhile joint owners GIC and New York-based developer Tishman Speyer. GIC had acquired 50% stake in Tishman Speyer’s WaveRock in 2015 at an enterprise valuation of INR 1,000 crore.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.