ASK Invests 260 Cr in Mixed Use Project in Noida
ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of the ASK Group has invested Rs. 125 cr. in Gulshan Homz’s mixed use project in Noida, NCR. This is ASK PIA’s second investment with Gulshan Homz. Earlier investment was of Rs. 135 crs investment in Gulshan Homz’s residential project in Noida in Jul-2019. Both projects are in line with ASK PIA’s strategy of providing funds to projects to facilitate project execution and completion. Demand and cash flows follows the projects with no completion risk.” Amit Bhagat, CEO & MD ASK Property Investment Advisors (ASK PIA) feels that Noida’s unmatched infrastructure, talent availability due to nearby education hub, relatively low lease rentals and proximity to Delhi will continue to drive its commercial real estate growth in the coming years. The mixed-use project comprising of retail, commercial and a multiplex is approx ~ 400,000 sq. ft.. It is a fully paid land with all approvals in place. Construction is currently at an advanced stage with completion expected in 2021. With ASK’s investment, the project will achieve its financial closure.
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