GIC acquired a 25% stake in CitizenM for €500m.

Singapore’s sovereign wealth fund GIC acquired a 25% stake in CitizenM, a Netherlands-based hotel chain and fully integrated hotel real estate developer, for €500m. Rattan Chadha, Founder and Executive Chairman of citizenM hotels, said, “We are excited to have GIC as our new investor. This move will help strengthen our position as one of the leading affordable luxury brands in the industry. With our bold expansion plans for the coming years, we are thrilled to have the financial support of investors who trust our vision and are instrumental in securing our future success.”