Singapore’s sovereign wealth fund GIC is strengthening its alliance with India’s largest listed realty developer DLF as it seeks to participate in helping build the country’s biggest retail mall of more than 2.5 million sq ft. The new project, a retail and commercial-led mixed-use development to be known as Down Town, will be constructed on a 23-acre land parcel owned by DLF in Gurgaon. The plot is on the highway opposite DLF’s 2.5 million sq ft commercial project Cyber Park. The DLF-GIC joint venture was formed in late 2017 after the promoters of the realty firm K P Singh and his family had sold their stake in rental arm DLF Cyber City Developers Ltd (DCCDL) to the Singapore investment firm. DLF-GIC JV to build India’s largest mall in Gurugram is yet another big business opportunity for the signage companies involving in in-store signage and display projects.
