IndiaRetailBiz

Aerens Gold Souk (AGS) Luxury Retail, a Delhi-based venture of Aerens family, which presently operates two Gold Souks at Gurgaon and Ludhiana, is preparing itself to launch a Rs 250 crore multi-specialty mall in the last quarter of 2010. The mall is coming up at Vandalur, near Chennai. The group has also set up Gold & Diamond Parks in Gurgaon and Kochi, while it has established a Wedding Mall in Delhi.

Incidentally, Souk, like Bazaar, is a word used for ‘marketplace in northern Africa or the Middle East.’ It can also signify a stall in such a marketplace.

According to Ashish Gupta, Vice-Chairman and Joint Managing Director, AGS Group, the work at Vandalur Mall to be called “Gold Souk Grande” is currently in progress. It is expected that the floor for anchor stores in this mall spread over 8 lakh sq ft would be handed over to concerned store owners by the end of 2010.

Almost 70 per cent of the 300 showrooms in the destination mall under construction have already been booked, adds Gupta.

The Gold Souk Grande will house a number of wellknown jewellery brands like Adora, Kiah, Celeste, Swaranjali, among others, from all over the world. Apart from jewellery stores, the mall will also house hypermarket, food court, and a miltiplex. The mall will also have brand and vanilla anchor stores offering lifestyle products, accessories, electronics, footwear, cosmetics and others.

The Aerens Gold Souk Group is also building a couple of its projects at Jaipur and Kochi. The Kochi project is also likely to become operational soon.

Founded in 1969, the AGS group, has emerged as a diversified real estate company with a portfolio encompassing retail, commercial, township, hospitality, gems & jewellery parks, and SEZ projects, across the country.