ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group, has announced an investment of INR 245 Crore for the development of a residential project in Sector 104, Dwarka Expressway Gurugram.
The Dwarka Expressway strategically links South-West Delhi to Gurgaon, with excellent road infrastructure enhancing connectivity between the two cities. The expressway’s proximity to key destinations, including the Indira Gandhi International Airport, has led to the location’s emergence as a self-sustained ecosystem featuring a mix of residential developments, commercial buildings and well-established social infrastructure. The upcoming metro is likely to boost Dwarka Expressway’s connectivity further.
With a total saleable area of approximately 1.2 Mn Sq. ft., the project has an aggregate revenue potential of INR1,600 Crore in the next five years. The proposed project comprises about 500 units targeting mid and upper-mid-income segment buyers and will spread across 4.6 acres. The fund will be deployed for land acquisition and the project’s working capital requirement.
Bhavin Jain, CIO, ASK Property Fund, said, "This marks another strategic investment in Gurgaon, reinforcing our stronghold in the NCR Market. The project will leverage Dwarka Expressway's outstanding connectivity and position in a transit-oriented zone. The entry point for acquisition provides an excellent margin of safety and aligns perfectly with our investment strategy. We are excited about our initial investment with Satya and are eager to explore future collaborations."
Manish Agarwal, Founder of Satya Group, commented, "This project offers end users and investors both a great opportunity to be a part of the most exciting micro market of Gurgaon, Dwarka Expressway. We are committed to delivering value to our customers. We are looking forward to more partnerships with ASK Property Fund and offer our customers the best products."
