Ashwin Sheth Group has strategically acquired a 50% stake in One Marina, a landmark luxury residential development located at Marine Drive, Marine Lines — one of South Mumbai’s most prestigious and sought-after addresses. With its iconic sea-facing views and ultra-luxury design, One Marina is set to redefine premium living standards in South Mumbai.
In a parallel development, PAG, a leading alternative investment firm from Singapore, has committed USD 65 million (over Rs 540 crore) towards the construction and development of this Rs 2,300 crore Gross Development Value (GDV) project. This investment deal also marks the exit of the previous lender, J.C. Flower ARC, thereby positioning Ashwin Sheth Group at the helm to drive the project forward.
Strategic Acquisition and Investment
- Stake Acquired: 50% by Ashwin Sheth Group
- Project: One Marina, Marine Drive, Marine Lines, Mumbai
- Investment Partner: PAG, Singapore (USD 65 Million / Rs 540+ Cr)
- Previous Lender Exit: J.C. Flower ARC
- Total GDV: Rs 2,300 crore
This transaction highlights Ashwin Sheth Group’s focused expansion into South Mumbai’s luxury and ultra-luxury residential segment, leveraging strong partnerships and financial backing.
Project Highlights: One Marina
- Located on the iconic Marine Drive sea-facing promenade
- Ultra-luxury residential development with panoramic sea views
- Designed to be a premium address redefining South Mumbai’s luxury market
- Supported by strong financial and strategic partnership with PAG
Leadership Insights
Ashwin Sheth, Chairman and Managing Director of Ashwin Sheth Group, remarked:
“With One Marina, we aim to create a truly exceptional living experience, making it one of the most premium residential addresses in South Mumbai. This project underscores our strategic focus on South Mumbai’s luxury segment, with multiple upcoming projects designed to elevate the ultra-luxury lifestyle. Our partnership with PAG ensures the necessary investment and expertise to unlock the project’s full potential.”
Sunil Hotchandani, Head – Fund Raising at Ashwin Sheth Group, added:
“This partnership continues our strategy to unlock and deliver value from legacy and underutilized projects. With PAG’s financial support and our proven development expertise, One Marina is positioned for a successful turnaround.”
Quick Facts Summary Table
| Project Name | One Marina |
|---|---|
| Location | Marine Drive, Marine Lines, Mumbai |
| Stake Acquired | 50% by Ashwin Sheth Group |
| Investment Partner | PAG, Singapore |
| Investment Amount | USD 65 Million (Rs 540+ crore) |
| Total GDV | Rs 2,300 crore |
| Previous Lender | J.C. Flower ARC (Exited) |
| Project Type | Luxury Residential Development |
FAQ Section
Q1: What is the significance of the One Marina project location?
A1: One Marina is located on Marine Drive, Marine Lines, a prestigious sea-facing address in South Mumbai known for its luxury residences and panoramic views.
Q2: What stake has Ashwin Sheth Group acquired in One Marina?
A2: Ashwin Sheth Group has acquired a 50% stake in the One Marina project.
Q3: Who is funding the project’s construction and development?
A3: PAG, a Singapore-based alternative investment firm, has committed USD 65 million (Rs 540+ crore) for the project’s development.
Q4: What is the total value of the One Marina project?
A4: The Gross Development Value (GDV) of One Marina is approximately Rs 2,300 crore.
Q5: What strategic benefits does this deal bring to Ashwin Sheth Group?
A5: This acquisition and partnership allow Ashwin Sheth Group to strengthen its presence in South Mumbai’s luxury real estate market, with financial backing and expert collaboration to successfully develop the project.