Ultra-Luxury Real Estate Fund Launches with Focus on Tier 1 Cities and Coastal Towns
Blackstone-backed ASK Asset & Wealth Management and India Sotheby’s International Realty have launched a dedicated ₹1,000 crore fund to invest in ultra-luxury residential properties across major cities and holiday destinations in India.
Luxury Real EstateInvestment FundAsk Asset Wealth ManagementIndia Sothebys International RealtyUltrahnisReal Estate MumbaiJan 09, 2025
The ASK Curated Luxury Assets Fund, a first-of-its-kind initiative, has an equity of ₹1,000 crore and aims to deploy funds in Tier 1 cities and holiday destination luxury home markets.
Amit Bhagat, Co-founder, CEO & Managing Director at ASK Property Fund, shared that they plan to close the initial fund within the next 2-3 months.
The fund will target investments of about ₹400-500 crore in two or three deals in 2025 and 2026.
The investment focus will extend beyond the major metros of Mumbai, Delhi, and Bengaluru to include coastal towns and hill stations across India.
Frequently Asked Questions
What is the ASK Curated Luxury Assets Fund?
The ASK Curated Luxury Assets Fund is a ₹1,000 crore investment fund launched by Blackstone-backed ASK Asset & Wealth Management and India Sotheby’s International Realty. It focuses on ultra-luxury residential properties in Tier 1 cities and holiday destinations across India.
What is the investment target for the ASK Curated Luxury Assets Fund?
The fund aims to invest about ₹400-500 crore in two or three deals in 2025 and 2026.
Which cities and regions are targeted by the fund?
The fund will invest in major metros like Mumbai, Delhi, and Bengaluru, as well as coastal towns and hill stations across India.
Who are the primary investors for the ASK Curated Luxury Assets Fund?
The primary investors include ultra High Net Worth Individuals (HNIs), HNIs, family offices, and other such investors, with a focus on leveraging Sotheby’s client base.
What is the target price range for the properties in the fund?
The fund will target luxury units priced at ₹8-10 crore and above, aiming to develop projects on residential zoned lands acquired from reputable developers.
Tags:
Related News Articles
Raymond to Unlock Shareholder Value by Demerging Real Estate Business
Raymond Ltd will demerge its real estate business to unlock value for shareholders and harness growth potential in the Indian property market.
MahaREAT Orders Neelkanth Constructions to Pay Interest and Execute Conveyance Deed
The Maharashtra Real Estate Appellate Tribunal has directed Neelkanth Constructions to pay interest and execute a conveyance deed in a recent ruling.
India's Real Estate Sector: A Booming Hub for Employment and Innovation
A recent report by Knight Frank and NAREDCO indicates a positive yet cautious outlook for India's real estate market, which is poised to become a major employment hub and a hub for PropTech innovation.
Uncovered Construction Vehicles Endanger Pune's Roads and Commuters
Pune residents are increasingly concerned about the unchecked movement of uncovered construction vehicles, leading to road damage and safety risks. Despite regulations, enforcement remains a major issue.
Pune Railway Station: Upgrades with Two New Platforms and Yard Remodeling
Pune Railway Station is set to undergo a major transformation with the addition of two new platforms and a comprehensive yard remodeling project. This initiative aims to enhance the station’s efficiency and passenger convenience. The project is part of a
Rupee Fall Boosts NRI Investments in Luxury and Ultra-Luxury Properties
The recent fall in the value of the Indian rupee has significantly boosted NRI investments in luxury and ultra-luxury properties. Several real estate companies, including DLF, BPTP, Mahindra Lifespaces, and the Rustomjee Group, have reported a surge in in