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.
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