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Thiruvananthapuram, July 26 Gurgaon-based Aerens Gold Souk Group plans to invest around Rs 750 crore in Kerala over the next few years.

The company’s board has approved an investment of Rs 1,000 crore in Kerala over five years, Mr Ashish Gupta, Vice Chairman and Joint Managing Director, Aerens Gold Souk Group told Business Line.

The company has already spent around Rs 250 crore of the Rs 1,000 crore earmarked for Kerala on its Gold Souk Grande mall in Kochi, he added.

Possession of retail space in the mall has already been handed over to the various tenants, he said. The mall, with over 5 lakh square feet of space, will have a ‘jewellery zone’ featuring some of the biggest jewellery brands from Kerala, India and the Gulf region, he claimed. In addition, Gold Souk Grande will also have a hypermarket, food court and some lifestyle retailers, he added.

The mall in Kochi, which is expected to open in three-four months, will also have a 4-screen multiplex, he said. This multiplex will be operated by Fun Cinemas, he added.

Meanwhile, the company has acquired land in Kozhikode and is scouting for land in several other cities in the State. Cities on the company’s radar include Thiruvananthapuram, Thrissur and Kottayam, Mr Gupta said. In all these locations it will consider all development options, including developing residential, office and retail space, he added.

The company has also started construction work on the first phase its gem and jewellery park at Kalamassery near Kochi. The 33-acre park will offer tenants both developed plots and built up space, Mr Gupta said.

The park will house jewellery manufacturers from across the country and also from Thailand, Italy and the Gulf, he explained. The company is already in touch with several potential tenants from these countries, he added.

More Stories on : New Projects | Retailing | Real Estate & Construction | Kerala

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