GIC Private Limited, formerly known as Government of Singapore Investment Corporation, will acquire developer and logistic property manager P3 Logistic Parks (P3), which is doing business in 9 countries, incl. Czech Republic, for almost EUR 2.4bn (CZK 65bn). The transaction is subject to approval from regulatory authorities, expected later in 2016. P3 was previously owned by TPG Real Estate and its partner Ivanhoé Cambridge. The developer has 11 new projects in the pipeline and is set to complete totally 300,000 m2 before the end of 2016.