Viviana Mall in Thane has been bought by ADIA-backed Lake Shore India Advisory for ₹1,900 crore (AED 838M), setting a national retail asset record- rebranded as Lake Shore. The Viviana Mall acquisition signals Abu Dhabi’s growing stake in Indian retail.
THANE: In a record-breaking move that has caught the attention of the global retail sector, Viviana Mall in Thane has been acquired for a staggering ₹1,900 crore (AED 838 million) by Lake Shore India Advisory — a firm backed by the Abu Dhabi Investment Authority (ADIA). This is now the largest retail asset transaction ever recorded in India.
The beloved Mumbai Metropolitan Region (MMR) mall, previously co-owned by Singapore’s sovereign wealth fund GIC and real estate player Ashwin Sheth Group, will now be rebranded as “Lake Shore”. The acquisition is expected to bring sweeping changes, with a focus on innovation, capital investment, and superior customer experiences under new management.
The Viviana Mall acquisition underscores the rising global interest in India’s booming retail landscape and reflects Thane’s rapid transformation into a key urban and commercial centre. Known for its lakes, the city has emerged as a high-value zone with rising residential projects, urban infrastructure, and retail footfall.
Industry experts believe this acquisition highlights both India’s and Thane’s strategic importance in global retail investment portfolios. The deal also marks another significant footprint by an Abu Dhabi-based entity in Indian real estate, further cementing UAE-India investment ties.
With the rebranding to Lake Shore, customers can expect modernised offerings, enhanced brand experiences, and infrastructure upgrades — part of a fresh retail strategy by ADIA-backed Lake Shore India Advisory. For the Indian market, the Viviana Mall acquisition stands as a major vote of confidence and a sign of evolving global partnerships.
