A 50 percent stake has been obtained of One Marina, a high-end residential project situated on Marine Drive in the Marine Lines area of South Mumbai by Ashwin Sheth Group. The luxury development is positioned along the city’s iconic sea-facing promenade and is designed to offer panoramic views and premium amenities.
The group also announced a major funding partnership with PAG, a leading alternative investment firm based in Singapore. PAG has committed 540 crore INR (65 million USD) to support the construction and development of the project, which has a gross development value of 2,300 crore INR (276 million USD). This financial arrangement enables the exit of previous lender J.C. Flower ARC, allowing Ashwin Sheth Group to take full control of the project’s direction.
The company stated that this acquisition reflects its strategic focus on expanding its presence in South Mumbai’s luxury and ultra-luxury residential market. One Marina is part of a broader pipeline of upscale developments the group plans to pursue in the area.
Learn more at Construction Times