GIC to acquire 49% stake in Provenance Land for Rs 1000 Cr

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By Rohit Sharma

MUMBAI

GIC, Singapore’s sovereign wealth fund, is in a process to acquire 49 per cent stake in a realty firm Provenance Land for an amount of Rs 1,000 crore, officials representing the realty firm said.

Provenance Land owns a mixed-use development on over four acres of land in Worli, central Mumbai. The development comprises the dominant Four Seasons Hotel Mumbai, a 5-star 34-storey, 202-room luxury hotel; the Four Seasons Private Residences Mumbai, a 64-storey, 41-unit high-end project which is under construction, and a proposed office tower. A wholly-owned Provenance Land entity will be managing the development, an official statement said.





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