ASK Property Fund, India SIR partner with Amavi by Clarks for Rs 500cr equity platform

New Delhi, Nov 25 (PTI) ASK Property Fund and India Sotheby's International Realty have set up a Rs 500 crore equity fund platform with Amavi by Clarks to invest in the development of luxury housing projects.

ASK Curated Luxury Assets Fund-I (CLAF-I), a collaboration between ASK Property Fund and India Sotheby's International Realty, has established a Rs 500 crore equity platform with Amavi by Clarks, according to a statement on Tuesday.

The platform will invest equity capital in branded luxury second homes across hills, lakes, and spiritual destinations.

Amavi by Clarks is backed by the promoters of Clarks Group of Hotels and Brij Hotels.

Amit Bhagat, Co-Founder, CEO, and MD at ASK Property Fund, said, "India's Ultra High Net Worth Individuals are increasingly drawn to luxury second homes, and our platform is designed to unlock rare, high-value opportunities in this space." Amit Goyal, MD of India Sotheby's International Realty, said the platform will benefit from its understanding of luxury buyers, ASK's investment expertise, and the Clarks Group's hospitality strength.

"Together, we aim to deliver a new generation of branded villa developments that seamlessly blend investment potential with elevated, experiential living," Goyal added.

Apurv Kumar, Founder, Amavi by Clarks and Managing Director, Clarks Group of Hotels, said the focus is on delivering hospitality-led premium home assets.

ASK Curated Luxury Assets Fund I is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund.

Delhi-based India Sotheby's International Realty (India SIR) is a real estate consultant that focuses on luxury properties. PTI MJH DR DR