ASK, KREEVA, and Shapoorji Pallonji to Invest in Luxury Housing

11 Dec 2024 CW Team

ASK Property Fund, KREEVA, and Shapoorji Pallonji Real Estate have jointly committed over Rs 2.7 billion to a luxury residential project in Gurugram. This marks the initial investment in their collaborative venture. The project, located in Sector 46 of Gurugram and covering 1.74 acres, aims to redefine urban living within the National Capital Region's real estate landscape. It is expected to generate revenues exceeding Rs 12 billion over the next five years. Sector 46 is a well-established residential area, benefiting from proximity to major employment hubs and robust social infrastructure. Bhavin Jain, Chief Investment Officer of ASK Property Fund, expressed confidence in the project, citing its strategic location and strong revenue potential. He also emphasized the partnership with KREEVA and Shapoorji Pallonji as a way to effectively manage risks and create an attractive investment opportunity. Venkatesh Gopalakrishnan, Managing Director & CEO of Shapoorji Pallonji Real Estate, highlighted the collaboration as a step toward setting new standards in luxury living in the Delhi-NCR region, catering to the evolving preferences of discerning clients. Dr Gautam Kanodia, Founder of KREEVA, expressed excitement about the partnership, which he believes will accelerate the development of their flagship project in Sector 46 and support the company's growth in the luxury real estate market. (Financial Express)

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