Oberoi Realty and Aman Group Join Forces for Luxury Hotel and Residential Project in Mumbai

I Ven Realty, a joint venture between Mumbai-based Oberoi Realty (ORL), its promoter Vikas Oberoi, and another entity, has signed a hotel management contract and branding and marketing agreement with the Switzerland-based Aman Group for a luxury hotel and residential project in the Worli area of Mumbai.

ORL holds a 39.13% stake, another 39.13% is held by Vikas Oberoi, and 21.74% is held by Alpha Wave Ventures in the special purpose vehicle (the JV company). The SPV holds leasehold rights for a land measuring 16,689.93 square metres (nearly 4 acres) situated at Dr. Annie Besant Road, Worli, Mumbai.

As part of the development of the land, the SPV plans to construct a hotel consisting of about 80 rooms, food and beverage outlets, and other allied facilities and amenities. Additionally, nearly 150,000-200,000 sq. ft. of residential real estate for sale along with allied facilities and amenities will be developed.

Aman will manage and operate the hotel under the ‘Aman’ brand. The hotel is expected to be operational by August 31, 2032, and will be managed and operated by Aman for an initial term of 25 years, with an automatic extension for a further period of 10 years unless chosen otherwise by Aman.

The residences will be developed, marketed, and sold using the licensed Aman marks and managed and operated under the ‘Aman’ brand. This strategic partnership underscores the commitment of both Oberoi Realty and Aman Group to deliver world-class luxury and hospitality in one of Mumbai’s most prestigious locations.

The project aligns with Oberoi Realty’s long-term vision to expand its presence in the luxury real estate market and enhance its portfolio with high-end, premium developments. The collaboration with Aman Group, known for its exceptional standards of luxury and service, is expected to set new benchmarks in the luxury real estate and hospitality sectors in Mumbai.

This development is particularly significant as it combines the local expertise and market knowledge of Oberoi Realty with the global brand recognition and operational excellence of the Aman Group. The project is poised to attract both local and international buyers, further solidifying Mumbai’s position as a hub for luxury living and hospitality.