ASK Property Investment Advisors Eyes Indian Real Estate Market with New Offshore Fund
ASK Property Investment Advisors is gearing up to invest in Indian real estate projects through its latest offshore fund, dubbed the ASK Real Estate Special Opportunities Fund. This strategic move is set to bolster the company's presence in the domestic market.
Initial Investment Commitment
The company has already committed a substantial $40 million (Rs 200 crore) out of its second domestic fund towards this initiative. Notably, a subsidiary in Singapore has been established to oversee the raising of this offshore fund, slated for launch in July.
Investment Strategy
The ASK Real Estate Special Opportunities Fund is designed to target projects with a completion cycle of three to four years.
- Average Investment Size: Rs 75-125 crore
- Focus Areas: Mid-sized development projects in key cities, including:
- Delhi-NCR
- Mumbai
- Pune
- Bangalore
- Chennai
A Word from the Managing Director and CEO
“We are a domestic fund and are constantly looking for opportunities in the domestic markets. Developers are constantly scouting for investments to buy land. We have so far deployed funds in ten investments,” remarked Mr. Amit Bhagat, Managing Director and CEO, ASK Property Investment Advisors.
Background and Context
- The ASK Group's first domestic fund, raised in 2009, was $75 million and targeted at the residential segment.
- 100% of the first fund has been committed, as per the company.
- Industry insiders point out that realty-focused funds across India aim to collectively raise over $5 billion from both domestic and offshore markets.