Oberoi Realty Consortium Secures Approval for Hotel Horizon in Mumbai
A consortium led by Oberoi Realty, along with Shree Naman Developers and JM Financial Properties and Holdings, has received the nod for the resolution plan of Hotel Horizon in Mumbai's Juhu locality.
Oberoi RealtyHotel HorizonJuhuMumbaiReal EstateReal Estate MumbaiJul 15, 2025
The Committee of Creditors (CoC) approved the consortium’s resolution plan on July 14, 2025, with a total bid of Rs 919 crore. This bid includes the full and final settlement of all outstanding claims and unpaid Corporate Insolvency Resolution Process (CIRP) costs. The payment is required within 45 days of the National Company Law Tribunal (NCLT), Mumbai Bench’s approval.
Hotel Horizon owns a 7,500 square meter land parcel with a breathtaking view of the Arabian Sea in Juhu. This strategic acquisition aligns with Oberoi Realty's goal to strengthen its presence in the premium real estate market. The deal will be executed either directly by the consortium or through a Special Purpose Vehicle (SPV).
Under the resolution plan, the consortium or SPV will subscribe to Rs one crore worth of fresh shares, ensuring 100 percent ownership and control of HHPL, subject to regulatory and NCLT clearances. This move is expected to boost Oberoi Realty's portfolio and enhance its position in the competitive real estate market of Mumbai.
Oberoi Realty, known for its high-quality residential and commercial projects, has a strong track record in the real estate sector. The acquisition of Hotel Horizon is a significant step towards expanding its footprint in prime locations, particularly in Mumbai, which is a key market for premium real estate.
The consortium's success in securing this resolution plan demonstrates their commitment to delivering value to stakeholders and contributing to the development of Mumbai's real estate landscape. With the approval of the CoC, the consortium is now poised to finalize the transaction and begin the next phase of development for the Hotel Horizon property.
This acquisition is not only a testament to the consortium's strategic vision but also highlights the potential of the Juhu locality as a prime real estate destination. The project is expected to attract significant interest from both domestic and international investors, further boosting the real estate market in Mumbai.
In conclusion, the approval of the resolution plan for Hotel Horizon marks a significant milestone for the consortium led by Oberoi Realty. It is a step forward in their mission to develop premium real estate projects that meet the growing demand for high-quality living and commercial spaces in Mumbai.
Frequently Asked Questions
What is the total bid amount for the Hotel Horizon acquisition?
The total bid amount for the Hotel Horizon acquisition is Rs 919 crore.
Who are the members of the consortium that secured the resolution plan?
The consortium includes Oberoi Realty, Shree Naman Developers, and JM Financial Properties and Holdings.
When was the resolution plan approved by the Committee of Creditors (CoC)?
The resolution plan was approved by the Committee of Creditors (CoC) on July 14, 2025.
What is the size of the land parcel owned by Hotel Horizon?
Hotel Horizon owns a 7,500 square meter land parcel in Juhu, Mumbai.
How will the deal be executed, and what is the next step?
The deal will be executed either directly by the consortium or through a Special Purpose Vehicle (SPV). The next step is to finalize the transaction and begin the development phase, subject to regulatory and NCLT clearances.
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