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ASK Property Investment Advisors (ASKPIA), the real-estate private equity arm of ASK Group, has invested $ 25 million (Rs 147 crore) in a residential project by ATS Group, Gurgaon. The project which will comprise of residential apartments is expected to have a sales value of around Rs 1,000 crore, according to company statement.
This is the 12th investment from ASK private equity funds and fifth from 2nd fund.
Getamber Anand, Chairman and Managing Director of ATS group and President Elect – CREDAI said, “This 11.5 acre land parcel is strategically located close to the expressway which is in close proximity to Delhi. This is our second project with ASK as private equity investor and it demonstrates comfort, understanding and confidence we have in each other. "
ASK Group manages domestic real estate funds of more than Rs 1,300 crore. This investment is a part of Rs 1,000 crore raised through the ‘ASK Real Estate Special Opportunities Fund’ in 2012. The Fund has already made four investments, two in Mumbai with Rajesh Builders and Godrej Properties and two in Bengaluru with Mantri Developers Private Limited and Shriram Properties.
