Ashwin Sheth Group Acquires 50% Stake in One Marina Mumbai

Ashwin Sheth Group has acquired a 50% stake in Project One Marina, a luxury residential development on Marine Drive, Marine Lines, one of South Mumbai’s most premium locations. The sea-facing project offers panoramic views and high-end design. PAG Singapore, a leading alternative investment firm, has committed USD 65 million (₹540+ crore) to fund construction and development as part of the ₹2,300 crore GDV deal. The transaction also enables the exit of previous lender J.C. Flower ARC, allowing Ashwin Sheth Group to lead the project forward.

Ashwin Sheth, Chairman & Managing Director of Ashwin Sheth Group, said, “With One Marina, we aim to create a truly exceptional living experience, making it one of the most premium residential addresses in South Mumbai. With this project we aim at demonstrating our strategic focus on South Mumbai with multiple other upcoming projects to redefine the luxury/ultra-luxury segment. Our partnership with PAG ensures that the project will receive the investment and expertise needed to realize its full potential.”

Sunil Hotchandani, Head – Fund Raising at Ashwin Sheth Group, added, “This partnership is a continuation of our strategy to unlock and deliver value in legacy and underutilized projects: With PAG’s financial support and our proven development track record, One Marina is well-positioned for a successful turnaround.”