Oberoi Realty JV I-Ven Realty Signs Hotel Management & Branded Residences Agreement with Aman Group for Worli, Mumbai
Ultra-Luxury Partnership: Aman Group Comes to Worli
Oberoi Realty's joint venture, 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. The announcement, made on 11 February 2026, marks a significant milestone in branded luxury hospitality entering Mumbai's south district.
The Development
The special purpose vehicle holds leasehold rights for land measuring 16,689.93 square metres, nearly four acres, on Dr Annie Besant Road in Worli. The development plan envisages a hotel of about 80 rooms together with food and beverage outlets and ancillary facilities, and approximately 150,000 to 200,000 sq ft of residences for sale with associated amenities.
The hotel is expected to be operational by 31 August 2032. The initial management term is 25 years and includes an automatic extension for a further period of 10 years unless Aman elects otherwise.
Aman's Global Scale and Strategy
Since its establishment in 1988, Aman Group has strategically evolved into a pioneering force across hospitality, residential development, and lifestyle experiences, with an ever-expanding portfolio of 35 hotels and resorts in 20 destinations across the globe. Aman's resort destinations average 35 room keys and urban destinations have fewer than 90 keys, maintaining the brand's ultra-luxury positioning.
Owners of Aman Residences enjoy unparalleled privacy, with homes often set within or adjacent to Aman resorts, granting access to the brand's exceptional amenities, including world-class spas, dining, and personalized services. The Mumbai venture will mark Aman's entry into India with an integrated hotel and branded residential offering.
The Joint Venture Structure
Oberoi Realty holds 39.13 per cent, promoter Vikas Oberoi holds 39.13 per cent and Alpha Wave Ventures holds 21.74 per cent of the SPV. The partnership aligns with Oberoi Realty's established footprint in Mumbai's premium residential sector and its track record in luxury hospitality collaboration.
Worli as a Prime Location
In 2025, Worli recorded 321 new sale transactions with a gross sales value of ₹5,257 crore, with the average property rate in the area standing at ₹81,083 per square foot, up from ₹78,085 per square foot in the same quarter last year. Upscale residential buildings and luxury apartments line Dr. Annie Besant Road, offering a high standard of living with various amenities nearby, including malls, restaurants, and entertainment options.
Worli is a luxurious residential area in Mumbai with premium facilities, easily connected to other parts of the city via Eastern Express Highway, Coastal Road, and Worli Bandra Sea Link.
Oberoi Realty's Hospitality Expansion
Oberoi Realty Ltd, established in the early 1980s and led by Vikas Oberoi, has transformed into a beacon of real estate development in Mumbai. Beyond residential and commercial spaces, Oberoi Realty has successfully ventured into hospitality with The Westin Mumbai Garden City, a five-star luxury hotel reflecting the company's commitment to delivering exceptional hospitality experiences.