A Gold and Diamond Park is being constructed over 33 acres in Kalamassery, Kochi, (in Southern Indian state of Kerala), by Aerens Gold Souk Group, a real estate developing company holding interests also in the entertainment and hospitality sectors. The park is conceived as “Kerala's biggest initiative for the gems and jewellery industry” and “a landmark for jewellery manufacturers, retailers, artisans, exporters and wholesalers to interact, network, source and promote business prospects”, according to Ashish Gupta, Vice Chairman and Joint Managing Director, Aerens Gold Souk Group.
The project is part of a 240 acres hi-tech park promoted by KINFRA (Kerala Industrial Infrastructure Development Corporation) and according to Ashish Gupta, “it will help facilitate standardisation in the industry, create products that are acceptable in international markets, provide steady employment opportunities and make available latest technologies with a view to preserving the State's traditional jewellery industry.” The manufacturing facility at the park is expected to be ready by September 2011, and the entire project within three years. The company is also providing residencies named Gold Souk Residencies, for manufacturers and a 5 Star Hotel, Mall and office complex.
The company plans project investment to be around Rs.450 crore, to be funded partly though internal accruals and joint ventures and partly though private equity (PE) fund for which the company is in talks for joint ventures with manufacturers from Middle East, Italy, Turkey, Malaysia, Singapore and Thailand.
The Aerens Gold Souk Group’s projects concentration lies within the lifestyle sector. It aims to build 100 million square feet of premium space. Its forthcoming projects include Gems & Jewellery SEZ in NCR, ‘Gold Souk Grande’ large format mall concept in Chennai, Indore, Hissar, Amritsar and Ajmer.
Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
