Fractional Real Estate Platform Raises Funds for Gurgaon Office Space

Preeti Bali / 1:34 pm / March 1, 2024

Fractional Ownership Investment Platform (FOIP), a technology startup in the fractional real estate space, has secured ₹23 crore in funding for its office space located in NEO Square, Gurgaon. This investment represents the final stage of funding sourced from block investors.

NEO Square is a prominent commercial development situated in Sector 109, Gurgaon. FOIP utilized a block deal strategy to raise the necessary capital through a select group of high-net-worth individuals (HNIs). The investment pertains to an office space spanning an area of 18,000 square feet.

Aankush Ahuja, CEO and Founder of FOIP, commented on the development, stating, “Our objective is to democratize access to high-value assets by providing smaller investment options with the potential for better returns. In our first year of operation, we are aiming to raise a total of only ₹100 crore. We are confident of achieving this target through securing additional valuable investment opportunities.”

The investors involved in this deal will have direct ownership in the property, expecting to generate a healthy return on their investment.

Anand Anand, CEO of NEO Square, expressed his satisfaction with the partnership, stating, “FOIP facilitated efficient investor outreach within a short timeframe and secured the required investment amount as per our agreement. We are optimistic about fulfilling our commitments and creating value for existing investors in the project.”

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