Oberoi Realty JV partners with Aman Group for luxury Worli development

Oberoi Realty's JV I-Ven Realty has signed agreements with Swiss hospitality firm Aman to develop a luxury hotel and branded residences project in Mumbai's Worli

Oberoi Realty’s joint venture (JV), I-Ven Realty Limited, has signed a hotel management agreement and a residences branding and marketing agreement with Swiss luxury hospitality firm Aman Group for a hotel and residential development in Mumbai’s Worli.

 

I-Ven Realty Limited is a special purpose vehicle (SPV) and a JV of Oberoi Realty, in which the company holds a 39.13 per cent ownership interest on a fully diluted basis. Another 39.13 per cent ownership interest in the SPV is held by Vikas Oberoi, the promoter of Oberoi Realty, and the balance 21.74 per cent ownership interest is held by Alpha Wave Ventures II, LP, each on a fully diluted basis.

 

The SPV holds leasehold rights in respect of land admeasuring 16,689.93 square metres (approximately four acres) situated at Dr Annie Besant Road, Worli, Mumbai.

 

As part of the development of the said land, the SPV plans to construct a hotel consisting of approximately 80 guest rooms, food and beverage outlets, and other allied facilities and amenities, and a residential development with about 150,000–200,000 square feet of carpet area for sale, along with allied facilities and amenities.

 

Under the hotel management agreement, 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.

 

Under the residences branding and marketing agreement, the residences will be developed, marketed, and sold using the licensed Aman marks, and managed and operated under the ‘Aman’ brand. The residences branding and marketing agreement has the same tenure as that of the hotel management agreement.

 

Additionally, Worli is a prime residential and commercial real estate market. The area dominated big-ticket home deals in 2025, accounting for 21 of the top 51 residential deals across the country. Ultra-rich individuals bought homes worth ₹3,511.42 crore in Worli in 2025, according to Zapkey, a real estate data analytics firm.

 

In 2025, Worli recorded 321 new sale transactions with a gross sales value of ₹5,257 crore, according to Square Yards Data Intelligence. As of the fourth quarter of 2025, the average property rate in the area stood at ₹81,083 per square foot, up from ₹78,085 per square foot in the same quarter last year.