The ASK Property Investment Advisors [ASK PIA] made an investment of Rs. 150 crore in Gulshan Homz’s residential project. Located at off Noida Expressway, this project is spread across one million square feet approximately.
ASK group is a realty private equity firm that invested via the Real Estate Special Situations Fund which was raised in March 2019. Post the finalization of this deal, the structured equity fund increased to more than 45% out of the approximate Rs. 920 crore.
The project is situated adjacent to Noida Expressway and shares close proximity with Blackstone’s Oxygen SEZ and the IT corridor of Noida. Till now the Gulshan Homz has delivered approximately 7 million sq ft of real estate. Out of this, 5.5 million sq ft is in Noida and other 4 million sq ft is under construction in Noida and Greater Noida.
This investment is a strategic move by the ASK group with the aim to offer funds for project completion.
Amit Bhagat, managing director, ASK Property Investment Advisors said that this is company’s first deal with the Gulshan Homz and the group fulfills the criteria of quality construction, delivery track record and reputation. The company look forward to have long-term, mutually beneficial association with Gulshan Homz’s, he further said.
Bhagat then said that is expecting better infrastructure with operational metro and the upcoming airport at Jewar as it will change the dynamics of Noida property market and will also increase job opportunities in the city. He also said that all this will boost the city’s residential real estate market.