Ashwin Sheth Group Secures 50% Stake in Mumbai's Prestigious One Marina Project
Mumbai-based real estate developer Ashwin Sheth Group has made a significant move in the luxury real estate market by acquiring a 50% stake in a high-value project in Mumbai. The project, known as One Marina, has a gross development value (GDV) of ₹2,300 crore. Singapore-based alternative investment firm PAG has committed funding of ₹540 crore ($65 million) to support the construction and development of this prestigious project.
One Marina is strategically located in Marine Lines, a prime micro-market in Mumbai. This area is renowned for its prime real estate, making it an attractive location for luxury developments. The project is expected to set new standards in luxury living and investment opportunities in the city.
PAG, a leading investment firm with over $55 billion in assets under management as of 30 September 2024, will play a crucial role in the successful execution of the One Marina project. Their commitment of ₹540 crore is a significant vote of confidence in the project's potential and the strength of the Ashwin Sheth Group.
Ashwin Sheth Group has a strong track record in the real estate sector, known for its innovative and high-quality projects. The acquisition of a 50% stake in One Marina further cements their position as a leading player in the luxury real estate market. The group's expertise in development and management will be instrumental in ensuring the project meets the highest standards of luxury and functionality.
The One Marina project is expected to attract a diverse range of investors and homebuyers, including high-net-worth individuals, international buyers, and those looking for premium real estate in Mumbai. The project's prime location, combined with its luxury amenities and PAG's financial backing, positions it as a standout investment opportunity in the Mumbai real estate market.
The acquisition of equity from Vallabh Seth adds another layer of expertise and experience to the project. Vallabh Seth, a well-respected name in the real estate industry, brings a wealth of knowledge and a strong network of contacts that will be invaluable in the development and marketing of One Marina.
In conclusion, the collaboration between Ashwin Sheth Group and PAG, along with the strategic acquisition of equity from Vallabh Seth, sets a strong foundation for the success of the One Marina project. This development is poised to become a landmark in Mumbai's luxury real estate landscape, offering unparalleled living experiences and investment opportunities.
