ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group, said it has invested ₹215 crore in Mahagun Group’s upcoming mid-income housing project in Noida. “…With this investment the ASK group has now invested in projects over 21 million sq ft, including over 8,000 residential units in Noida. The project is in line with ASK PIA’s strategy of providing funds for mid-income housing executed by reputed developers along job growth corridors,” said Amit Bhagat, CEO and MD, ASK PIA. Mid-income housing has seen a substantial recovery and prices have bottomed out in last six months. ASK Real Estate Fund-2, sponsored by ASKPIA, also received approval for the first real estate focused fund of funds as an alternative investment fund (AIF), category III.

Source: Mint November 11, 2021 15:02 UTC