ASK Property Fund, KREEVA & Shapoorji Pallonji to invest Rs 270 crore in housing project

ASK Property Fund, Kanodia Group’s KREEVA and Shapoorji Pallonji Real Estate will jointly invest Rs 270 crore in a housing project in sector 46, Gurugram.

Bhavin Jain, CIO of ASK Property Fund, said, “With significant equity from KREEVA and partnership with Shapoorji Pallonji Real Estate, this project effectively minimises risk.”

The joint development project is spread across 1.74 acres and is expected to generate revenue exceeding Rs 1,200 crore over the next five years.

Mayank Jain, CEO of KREEVA said, “These funds will allow us to broaden our expansion plans.”