Aerens to set up separate gold, jewellery malls in Chennai

The 300 crore Aerens group, which is into real estate development, expects to set up exclusive jewellery and shopping malls in Chennai at a total investment of Rs 80 crore.

Addressing mediapersons, G S Pillai, director, Aerens Goldsouk International, said the group expects to start construction by October-November as there were certain formalities to be cleared on the seven-acre property. The project will be completed in two years time, he said.

"The company will set up Gold Souks, an exclusive jewellery mall of 2 lakh sq ft and Wedding Souks, a mall catering only to shopping in Vandular (suburbs of Chennai)," he added.

Pillai said that large format malls will be set up in the suburbs for convenience of movement and parking as there is not much space available to be developed within the city.

The group has already started construction of Gold Souk in Gurgaon. Gold Souk and Wedding Souk are in process of construction in Ludhiana and Kochi. The company has plans of setting up such speciality malls in Mumbai, Kolkata, Bangalore, Hyderabad next year.

The Gold Souk will have traditional and contemporary jewellery designs in gold, diamond, platinum, silver and precious gems.

The Wedding Souk will showcase wedding clothes for entire family along with accessories, footwear, consumer durables, furniture and exclusive wedding services such as florists, wedding card printers, travel agents and caterers, Pillai said.