Ashwin Sheth Group Transforms South Mumbai Skyline with One Marina

A Bold Step in Luxury Real Estate

In a move that redefines South Mumbai’s luxury landscape, Ashwin Sheth Group has acquired a 50% stake in One Marina, a prestigious residential project with a gross development value (GDV) of ₹2,300 crore. This landmark acquisition, announced on June 11, marks a significant milestone for the Mumbai-based developer and signals its ambitious vision for the city’s ultra-luxury segment.

A Strategic Partnership with Global Backing

The acquisition was made possible through a robust funding partnership with PAG Singapore, an Asia-focused investment firm that has committed $65 million (over ₹540 crore) to support the project’s construction and development. The funds not only facilitated the exit of J.C. Flower ARC, whose loan from Yes Bank was settled by Ashwin Sheth Group, but also ensured a seamless transition for the new partnership.

Ashwin Sheth Group acquired the stake from Vallabh Sheth and Jitendra Sheth, promoters of Sheth Creators, who previously co-owned the project alongside landowner YM Infra. With this transaction, Ashwin Sheth Group now holds a significant saleable area of four lakh square feet within the one million square foot development.

Unparalleled Location and Unmatched Luxury

Situated near Marine Drive and the historic Princess Street Flyover, One Marina enjoys a prime location in the heart of South Mumbai. The project is set to rise 74 floors above ground, with construction currently completed up to the 9th podium level. Residents will enjoy a range of sea-facing apartments, including 3 BHK and 4 BHK units, duplexes, triplexes, and penthouses, all designed to offer an exceptional living experience.

A Vision for the Future

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

Sunil Hotchandani, Head of Fundraising 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.”

Setting New Standards in Luxury Living

One Marina is more than just a residential tower—it is a symbol of South Mumbai’s evolving skyline and a testament to the city’s enduring appeal as a global destination for luxury living. With its prime location, world-class amenities, and visionary leadership, One Marina is poised to set new benchmarks for urban elegance and sophistication.