Ashwin Sheth Group and Sethi Group Signs Joint Venture Deal in Nagpur

Ashwin Sheth Group and Sethi Group Signs Joint Venture Deal in Nagpur

Ashwin Sheth Group and Sethi Group ink pacts for commercial  JV Deal in Nagpur for First Large-Scale Retail Destination. Ashwin Sheth Group, a leading real estate developer, has announced a joint venture in Nagpur-based Sethi Group to develop Viviana Nagpur, a one-million-square-foot shopping mall.

Project Highlights:

• Location: Upmarket southwestern region of Nagpur near Pratap Nagar.
• Project Name: Viviana Nagpur
• Size: 1 million sq. ft. (largest retail space in Nagpur)
• Investment: Rs 650 crore (including land and construction costs)
• Project Features:
  • Diverse retail options
  • Entertainment zone
  • Food and beverage section
• Target Market: Brand-conscious shoppers in surrounding affluent areas

Strategic Significance:

• First Large-Scale Retail Development in Nagpur: Viviana Nagpur will be the city’s first major upscale shopping destination, offering a variety of retail, entertainment, and dining options.
• Prime Location: Situated in a prominent commercial area, the mall will benefit from easy access and a high-traffic location.
• Gateway for Global Brands: Viviana Nagpur aims to attract premium national and international brands, elevating the city’s retail landscape.
• Employment Opportunities: The project is expected to create significant direct and indirect job opportunities for Nagpur residents.

Quotes:

• Ashwin Sheth, Chairman, Ashwin Sheth Group:
  • This project strategically expands Ashwin Sheth Group’s portfolio and replicates the success of the Viviana brand.
  • The mall will be managed by experienced professionals and leverage the expertise of the Viviana brand.
• Aman Sethi, Managing Director, Sethi Group:
  • Viviana Nagpur marks the first large-scale retail development in Nagpur.
  • The mall aims to become a one-stop shop for global brands, catering to Nagpur’s growing and brand-aware population.
  • Nagpur’s infrastructure development and economic growth make it an ideal location for a large-scale shopping centre.

Additional Notes:

• The announcement aligns with Ashwin Sheth Group’s pre-pandemic roadmap for expansion.
• The existing Viviana Mall in Thane serves as a successful model for this project.

Overall, Viviana Nagpur signifies a major development for Nagpur’s retail sector. The mall is poised to become a premier shopping destination, offering a world-class experience for residents and attracting new brands to the city.

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in