ASK Property to set up alternate investment fund in GIFT City

30 Oct 2021 CW Team

The authority has also given ASKPIA permission to open a branch office in Gandhinagar's GIFT City.

This fund will serve as a conduit for international funds to invest in funds that will then invest in companies or projects. Global investors will be able to invest in India directly through GIFT City, rather than going through Singapore, Cyprus, Mauritius, and other countries.

The first fund to receive this approval is ASK Real Estate Fund II. The IFSC has made the investment process for investment flows from NRIs and international investors into domestic markets more efficient and simple.

Tapan Ray, MD and Group CEO of GIFT City told the media that NRIs, HNIs, and global funds will be able to invest in AIFs at the GIFT IFSC thanks to funding houses like ASK. Setting up offices at GIFT IFSC and attracting offshore funds for investments in India has become a natural choice for large fund houses. As a result of this development, Indian and international institutions are rushing to establish similar funds at the GIFT IFSC.

The authority has also given ASKPIA permission to open a branch office in Gandhinagar's GIFT City.

The government's establishment of the IFSC has made the investment process for NRIs and international investors into domestic markets more efficient and simple.

Despite the pandemic, private equity investments in the real estate sector have increased in recent years, particularly in the last year. The increase is primarily due to foreign funds investing in India, as the real estate recovery is now fully visible and long-term structural changes are beginning to bear fruit. Foreign investors are drawn to the sector because of the numerous opportunities available in the residential, mixed-use, commercial, retail, industrial, and other segments.

Image Source

Also read: GIFT city receives highest certification from IGBC as greenfield city

ASK Property Investment Advisors (ASKPIA) has received approval from the International Financial Services Centre Authority (IFSCA) to establish and manage its first real estate focused fund of funds as an Alternative Investment Fund (AIF), category III, in Gujarat's GIFT City. The authority has also given ASKPIA permission to open a branch office in Gandhinagar's GIFT City. This fund will serve as a conduit for international funds to invest in funds that will then invest in companies or projects. Global investors will be able to invest in India directly through GIFT City, rather than going through Singapore, Cyprus, Mauritius, and other countries. The first fund to receive this approval is ASK Real Estate Fund II. The IFSC has made the investment process for investment flows from NRIs and international investors into domestic markets more efficient and simple. Tapan Ray, MD and Group CEO of GIFT City told the media that NRIs, HNIs, and global funds will be able to invest in AIFs at the GIFT IFSC thanks to funding houses like ASK. Setting up offices at GIFT IFSC and attracting offshore funds for investments in India has become a natural choice for large fund houses. As a result of this development, Indian and international institutions are rushing to establish similar funds at the GIFT IFSC. The authority has also given ASKPIA permission to open a branch office in Gandhinagar's GIFT City. The government's establishment of the IFSC has made the investment process for NRIs and international investors into domestic markets more efficient and simple. Despite the pandemic, private equity investments in the real estate sector have increased in recent years, particularly in the last year. The increase is primarily due to foreign funds investing in India, as the real estate recovery is now fully visible and long-term structural changes are beginning to bear fruit. Foreign investors are drawn to the sector because of the numerous opportunities available in the residential, mixed-use, commercial, retail, industrial, and other segments. Image Source Also read: GIFT city receives highest certification from IGBC as greenfield city

Real Estate

23 Oct 2025

What Does Home Insurance Really Cover?

Home insurance is one of the most important protections a homeowner can have. It offers financial cover for unexpected damages, losses, or liabilities related to your property. However, many homeowners are not fully aware of what is actually included in their home insurance policy.This guide breaks down what home insurance really covers, so you can be better prepared and make informed decisions.What is home insurance?Home insurance is a financial product that protects your house and belongings against damage, theft, or accidents. It generally includes coverage for the building itself, as ..

Infrastructure Urban

23 Oct 2025

Hettich Strengthens Industry Ties at Madhya Pradesh Investment Meet

Hettich India, a global leader in furniture fittings, reinforced its commitment to Madhya Pradesh’s industrial growth as a Guest of Honour at an Interactive Session on Investment Opportunities in Power, Renewable Energy Equipment, and White Goods Manufacturing, hosted by the Government of Madhya Pradesh in partnership with the Confederation of Indian Industry (CII) at Hotel Trident, Nariman Point, Mumbai.The session, chaired by Dr Mohan Yadav, Hon’ble Chief Minister of Madhya Pradesh, brought together leading domestic and international investors, industry representatives, and business lead..

Equipment

23 Oct 2025

Raimondi Names New Saudi Branch Head

Raimondi Middle East has announced the appointment of Ahmad Shakkour as Branch Manager for the Kingdom of Saudi Arabia, reinforcing the company’s commitment to expanding its presence in one of its key regional markets.With Saudi Arabia driving a wave of large-scale infrastructure and urban development projects, Raimondi aims to strengthen its on-ground operations and customer engagement. The company currently has over 100 cranes deployed across the country and continues to expand its technical and service teams to support growing demand.“Saudi Arabia represents a cornerstone of our regiona..