In a landmark development for India’s retail sector, Viviana Mall in Thane has officially been acquired by Lake Shore India Advisory, backed by the Abu Dhabi Investment Authority (ADIA). The deal, valued at a whopping ₹1,900 crore, marks the biggest-ever transaction for any retail asset in India, underscoring Thane’s growing prominence as a retail and commercial hub.
From Viviana to Lake Shore: A New Era for Thane’s Retail Landmark
With this acquisition, Viviana Mall will now be rebranded as “Lake Shore”, signaling the beginning of a new chapter for one of the most beloved shopping and lifestyle destinations in Mumbai Metropolitan Region (MMR).
Previously owned by Singapore’s sovereign wealth fund GIC and real estate developer Ashwin Sheth Group, Viviana Mall has long been recognized as a premier retail space, attracting millions of visitors every year with its world-class brands, entertainment zones, and dining options.
The new ownership under Lake Shore is expected to enhance the mall’s positioning, bringing in fresh investments, innovative retail strategies, and improved customer experiences.
India’s Largest Retail Asset Deal
The ₹1,900 crore acquisition sets a new benchmark in India’s real estate and retail sector. Industry experts view this as a vote of confidence in India’s retail growth story and in Thane’s strategic importance within MMR.
Thane, often referred to as the city of lakes, is rapidly transforming into a corporate, residential, and retail powerhouse. With superior connectivity, premium housing projects, and a growing urban population, the city offers a strong customer base for large-scale retail destinations like Lake Shore.
What This Means for Shoppers in Thane
While the mall’s name and ownership have changed, its core promise of world-class shopping and entertainment remains intact. Shoppers can expect:
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Continued presence of top global and Indian brands
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Upgraded facilities and customer-friendly enhancements
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Potential new retail formats and experiences under Lake Shore’s management
For Thane residents, this means their favorite shopping destination is here to stay—only bigger, better, and with a refreshed identity.
A Boost to Thane’s Retail Landscape
The acquisition also highlights Thane’s growing stature as a prime retail and real estate hotspot. With increasing investments from global funds and developers, the city is quickly becoming one of the most sought-after retail markets in India.
About Lake Shore India Advisory
Lake Shore, backed by ADIA, focuses on high-value retail and commercial real estate assets across India. The acquisition of Viviana Mall is a significant milestone in its India portfolio, reflecting its confidence in the country’s booming consumption market.
