The Singapore government's real estate investment fund on Monday announced it was taking the plunge into the Russian market, putting $233 million into a project with leading developer PIK Group to build a self-contained neighborhood in the Moscow region.
GIC Real Estate, part of the Government of Singapore Investment Corporation, said in a statement that an affiliate company had acquired a 25 percent stake in the mammoth, 114-hectare Yaroslavsky development in the town of Mytishchi, northeast of Moscow.
