ASK Property Fund Signs ₹500 Crore Platform Agreement with Bhumika Group

( 121 बार पढ़ी गयी)

Published on : 06 Aug, 26 18:08

Udaipur: ASK Property Fund, backed by Blackstone, has announced the signing of a ₹500 crore platform agreement with Bhumika Group to

Udaipur: ASK Property Fund, backed by Blackstone, has announced the signing of a ₹500 crore platform agreement with Bhumika Group to invest in a pipeline of real estate developments across high-growth micro-markets in the National Capital Region (NCR). The proposed platform will focus on multiple real estate projects, including residential plotted developments.

As part of the agreement, ASK Property Fund has proposed an initial investment of ₹125 crore in a 20-acre plotted residential development in Faridabad. The city has emerged as one of NCR’s fastest-growing real estate micro-markets, supported by ample land availability, improving infrastructure, and competitive pricing.

The project is expected to benefit from enhanced connectivity through key infrastructure initiatives, including the Delhi–Mumbai Expressway, the proposed Faridabad–Noida–Ghaziabad (FNG) Expressway, the Faridabad–Jewar Corridor, and the upcoming Noida International Airport. These developments are expected to significantly improve accessibility and strengthen buyer demand in the region.

Commenting on the partnership, Bhavin Jain, Co-Head and Chief Investment Officer (CIO) of ASK Property Fund, said, “Our platform agreement with Bhumika Group reflects our continued strategy of building strong, large-scale partnerships in the residential real estate sector. We believe this collaboration will enable us to capitalize on the growing demand for well-planned residential developments in high-potential NCR markets.”

Uddhav Poddar, Chairman and Managing Director of Bhumika Group, described the agreement as a significant milestone in the company’s growth journey. He said, “This platform partnership with ASK Property Fund is more than a capital investment. It represents the coming together of two institutions that share a common vision of creating long-term value through disciplined execution, sustainable growth, and the highest standards of corporate governance.”

The strategic alliance is expected to accelerate the development of premium residential communities while strengthening both organizations’ presence in the rapidly expanding NCR real estate market.