ASK Property Fund, part of the Blackstone-backed ASK Asset & Wealth Management Group, has announced investments of INR 210 crore in Gami Group’s projects in Navi Mumbai’s prominent micro markets of CBD Belapur and Ghansoli.

The project at CBD Belapur spans ~2 acres and plans to offer 2- and 3-BHK configurations. It is situated at the foothill of Parsik Hill, a popular landmark in Navi Mumbai, renowned for its landscape and scenic views. Moreover, the project location is likely to benefit significantly from proximity to commercial developments and physical and social infrastructure. Another project is located in the Ghansoli micro market, close to both Ghansoli station and Thane Belapur Road. Due to its strategic location near industrial zones and IT parks, Ghansoli has experienced rapid growth in recent years.

Bhavin Jain, CIO, ASK Property Fund, stated: “This investment signifies ASK’s initial foray into the Navi Mumbai market, which has experienced considerable momentum due to significant infrastructure upgrades such as the NMIA and improved connectivity with Mumbai via Atal Setu. Moreover, CIDCO’s planned allocation of land for residential and commercial use, along with intracity connectivity, has boosted Navi Mumbai’s real estate market. Both these projects represent a remarkable investment opportunity, given their prime locations within well-established catchment areas. Our collaboration with Gami Group reflects our commitment to partnering with developers with a proven track record of quality and timely completion.”

Ambalal Gami, Founder of Gami Group, commented: “This investment marks the beginning of our collaboration with ASK Property Fund, and we look forward to strengthening this relationship further. We believe both projects have appealing configurations and ticket sizes to cater to buyer preferences.