ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group, has invested Rs 125 crore in Gulshan Homz's mixed-use project in Noida, Uttar Pradesh.
ASK PIA CEO and MD Amit Bhagat said, "This is ASK PIA's second investment with Gulshan Homz. Earlier investment was of Rs 135 crore in Gulshan Homz's residential project in Noida in July 2019."
Both projects are in line with ASK PIA's strategy of providing funds to projects to facilitate project execution and completion, a statement said.
The mixed-use project comprising of retail, commercial and a multiplex is about 4,00,000 sq ft. It is a fully-paid land with all approvals in place.
The construction is currently at an advanced stage with completion expected in 2021. With ASK's investment, the project will achieve its financial closure, the statement said.
Gulshan Homz Director Deepak Kapoor said, "Our upcoming project promises to be a hub for the entire family as it provides for office, shopping, dining, and entertainment options.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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