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Tuesday, 12th May 2009 (1222 views)

Aerens Goldsouk (AGS) has unveiled plans to expand its presence in India's gold jewellery retail sector.

The real estate firm is creating a new park in Kochi, a gold souk grande in Chennai and a special economic zone in Gurgaon, according to the Economic Times.

Ashish Gupta, AGC vice chairman and joint managing director, told the news source: "Though the slowdown has resulted in reductions in footfalls of casual shoppers, wedding purchases have kept our malls running. The jewellery zone has acted as a buffer in the last few months."

The new gold souk grande multi-specialty mall at Chennai - due to open in late 2010 - will be a large development with a range of retail, food and entertainment outlets, including gold jewellery stores.

A gem and jewellery park at Kalamassery in Kochi will be completed over four years in a series of phases.

Delhi-based AGS currently owns three gold souks in Delhi, Gurgaon and Jaipur, in addition to a gold souk grande in Ludhiana.

 

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