Runwal buys out GIC's 50% stake in Mumbai's R City Mall

09 May 2023 CW Team

According to people with firsthand knowledge of the situation, real estate giant Runwal has acquired Singapore's sovereign wealth fund GIC's entire 50% ownership in their joint retail venture, the Ghatkopar neighbourhood of Mumbai's R City Mall, for over $10,000,000,000.

The deal is one of the biggest purchases of a single property in the Indian retail sector.

With returns of more than 4 times and a 1.2 million square foot retail asset valued at more than 20,000 million, the deal signals GIC's withdrawal from the market. Since the mall began operating in 2009, GIC has also benefited from additional returns from rental income.

One of the first Foreign Direct Investments (FDI) in the Indian real estate market occurred in 2006 when Runwal and GIC collaborated on the development of R City, the company's flagship mall. With GIC injecting money worth around 2500 million for the 50% ownership in the joint business, the collaboration began as a greenfield enterprise.

Products

19 May 2025

unWOOD transforms plastic waste into durable wood alternative

unWOOD, a breakthrough innovation, is converting hard-to-recycle plastic waste into a durable alternative to natural wood. Developed through a proprietary process called Intelligent Compounding, unWOOD uses a Macro Molecular Fiber Matrix (MMFM) structure to replicate the strength, look, and feel of hardwood鈥攚ithout the environmental cost.Conceptualised by Dr Babu Padmanabhan, the material addresses key flaws in traditional plastic recycling by consuming minimal energy, using zero water, and generating no microplastics. 鈥淎ny application that introduces plastics into areas where it cannot be..

Real Estate

19 May 2025

India's first AI-integrated campus announced in Noida

Yashoda Hospital and Bhutani Infra have announced plans to develop India鈥檚 first fully AI-integrated mixed-use campus in Greater Noida West. The upcoming project will feature a hospital, retail spaces, offices, SOHOs, serviced apartments, and a hotel鈥攁ll operating within a self-learning, generative AI-powered ecosystem.The AI-first campus will integrate real-time data systems, predictive analytics, and adaptive infrastructure to offer personalised experiences across functions. From AI-enabled footfall tracking and dynamic energy optimisation to smart F&B and retail insights, the develo..

Infrastructure Urban

19 May 2025

Postal Dept Unveils Stamp Honouring 125 Years of Kodaikanal Observatory

The Department of Posts is proud to release a commemorative postage stamp celebrating 125 years of the Kodaikanal Solar Observatory (KSO). Recognising the legacy of the KSO through this special stamp is a fitting tribute to one of India鈥檚 most significant scientific institutions and highlights the nation鈥檚 long-standing contribution to global science.The Commemorative stamp was released by S Rajendra Kumar, Chief Postmaster General, Karnataka Circle in the gracious presence of A S Kiran Kumar, Chairperson, Governing Council, IIA and Former Chairman, ISRO and other esteemed guests at Indian..