ASK, KREEVA & Shapoorji to Invest Rs 2.70 bn in Gurugram Project
ASK Property Fund, Kanodia Group's KREEVA, and Shapoorji Pallonji Real Estate will collectively invest Rs 2.70 billn=ion in a housing project located in Sector 46, Gurugram.
Bhavin Jain, the Chief Investment Officer (CIO) of ASK Property Fund, stated that the project effectively minimizes risk due to significant equity from KREEVA and the partnership with Shapoorji Pallonji Real Estate.
The joint development project, covering 1.74 acre, is expected to generate revenue exceeding Rs 12 billion over the next five years.
Mayank Jain, the CEO of KREEVA, mentioned that the funds would enable them to expand their plans further.
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