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ASK Property Fund, part of the Blackstone-backed ASK Asset & Wealth Management Group, has invested INR 245 crore in a residential project in Gurugram's Sector 104, located along Dwarka Expressway. The project, spread across 4.6 acres, will include approximately 500 mid to upper-mid-income housing units, with a total saleable area of 1.2 million sq ft. Expected to generate INR 1,600 crore in revenue over five years, the investment will support land acquisition and working capital requirements.
ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group, has announced an investment of INR 245 crore in a residential project located in Sector 104, along the Dwarka Expressway in Gurugram. This strategic investment is expected to bolster the region's growing housing market, catering to mid and upper-mid-income homebuyers. Advertisement
The project will span approximately 1.2 million sq ft of saleable area and is projected to generate revenue of around INR 1,600 crore over the next five years. With nearly 500 residential units planned, the development aims to meet the increasing demand for premium housing options in Gurugram's rapidly expanding real estate market. The project will be spread across 4.6 acres, offering residents a blend of modern amenities and strategic connectivity.
Bhavin Jain, Chief Investment Officer at ASK Property Fund, emphasised that the acquisition entry point presents a strong margin of safety, making it a secure and lucrative investment opportunity. He noted that the project aligns well with the fund's broader strategy of investing in high-potential developments with strong growth prospects.
The allocated capital will primarily be used for land acquisition and to meet the project's working capital requirements. The investment reflects ASK Property Fund's confidence in Gurugram's real estate sector, particularly along the Dwarka Expressway, which has emerged as a key growth corridor due to its infrastructure development and increasing demand for residential spaces.
This move is in line with ASK Property Fund's approach of investing in well-located, high-quality residential projects that offer long-term value. With the ongoing development of the Dwarka Expressway enhancing connectivity and infrastructure in the area, the project is expected to attract strong interest from potential homebuyers and investors alike.
ASK Property Fund's latest investment in Gurugram highlights its strategic focus on high-potential residential developments. With strong revenue projections and a well-positioned location along Dwarka Expressway, the project is expected to cater to the growing demand for mid and upper-mid-income housing. The fund's emphasis on a secure acquisition entry point suggests a calculated approach to risk management, reinforcing its commitment to long-term value creation in the real estate sector.
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