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ASK Property Fund would invest 120 crores to the Gurugram luxury apartment project of real estate group TREVOC. The Blackstone-backed ASK Asset & Wealth Management Group’s real estate private equity division, ASK Property Fund, would contribute Rs 120 crore to TREVOC’s opulent residential project in Gurugram.
TREVOC group officials said in a statement that it will be investing Rs 80 crore in the luxury project. The funds will come from the newly closed ASK Property vehicle’s ASK Real Estate Special Opportunities Fund IV, a high-yield debt vehicle.
Trevoc Group Luxury Project On Golf Course Road Gurgaon
This funding has been acquired by real estate developer Trevoc for their luxurious housing project located on Golf Course Road Gurgaon. The promoters have over 20 years of expertise in the NCR sector and an exceptional track record of developing over 15 million square feet of real estate projects.
With a total project area of more than 5 lakh square feet, the project is spread over 2 acres and includes more than 175 luxurious residential apartments. The project’s prime location on Golf Course Road in Gurgaon offers purchasers a competitive edge as well as the benefits of convenience and connection. It is close to employment corridors and has a superb road network.
Trevoc Group Upcoming Luxury Projects In The National Capital Region
With this investment, the company demonstrates its ongoing dedication to locating and funding high-potential micro markets in India’s top six cities. ASK Property Fund is contributing Rs 120 crore for project working capital and acquisition.
The Gurugram project spread over two acres of land and has about 175 residential units with a total saleable space of over 5 lakh square feet. The estimated combined revenue potential of about Rs 800 crore over the next five years. The Gurgaon project presents a compelling investment opportunity for ASK Property Fund.
The TREVOC Group’s managing director, Gurpal Singh Chawla, stated that the business is eager to grow its collaboration with ASK Property Fund. The project is one of those exceptional chances when one of the most desirable locations in the city is acquired through the HSVP auction in conjunction with due financial partners, letting us to build something genuinely amazing.
Trevoc Group Strategic Location Investments
ASK Property Fund has carefully selected investments for its portfolio, keeping a close watch on India’s gems in the real estate market. The fund’s investment strategy is spread across the leading cities in the country, with noteworthy holdings in Pune, Bengaluru, Chennai, and Mumbai, as well as the biggest portion of residential and commercial real estate in Delhi-NCR. The fund’s dedication to maximizing the potential of India’s real estate industry is demonstrated by its varied yet targeted strategy.
The Luxury Real Estate Market Is In High Demand
Gurgaon’s luxury real estate sector, which is well-known for its extravagance and strong demand, offers attractive investment opportunities. The project is well-positioned for success, with a healthy commercial component driving residential growth and a minimal inventory overhang. This project is expected to bring in around Rs 800 crore in income over the next five years, demonstrating the potential of Gurgaon’s luxury real estate sector.
Trevoc Group Perspective Leadership
ASK Property Fund’s CIO, Bhavin Jain, is optimistic about the project’s location and the strong demand for opulent homes in the neighborhood, both of which support the fund’s investment strategy and offer substantial returns. The MD of Trevoc Group, Gurpal Singh Chawla, notes the strength of their collaboration with ASK Property Fund and highlights the exceptional chance to create a historic project that would serve a privileged clientele.
Source-HT
