Alpha Alternatives is set to invest Rs 1,250 crore in ASF Insignia, a large IT office campus in Gurugram, spanning 50 acres.

The investment will be allocated in tranches, with the first tranche of approx. Rs 450 crore already received. The primary objective of this funding is to reduce the existing debt and support future development of the campus, which includes the construction of over two million sq. ft. of space. ASF Insignia, currently with 2.3 million sq. ft. operational, is working towards being REIT-ready.

Anil Saraf, Chairman of ASF Group, emphasized that the investment would help position the campus for long-term success, with competitive rental rates aimed at attracting tenants seeking large spaces and a robust ecosystem. The overall plan includes capital structure improvements, infrastructure upgrades, and enhancing the tenant experience to ensure the campus remains a prime commercial office project for years to come.