Mumbai-based Oberoi Realty Ltd has joined hands with US-based Ritz-Carlton for its mixed-use development project in Mumbai to be developed by Oasis Realty, the company said in a stock market disclosure.
Oasis Realty is a JV between Sahana Group and Oberoi Realty.
The Mumbai project will have two towers—The
Ritz-Carlton Mumbai and The Residences managed by Ritz-Carlton Mumbai. The deal will mark Ritz-Carlton’s entry into Mumbai.
The Ritz-Carlton Hotel will have 238 rooms, two speciality and fine dining restaurants and an ocean view bar, spa and banquet facilities. The 2.1-million-sq-ft project is located at less than a kilometre from Bandra-Worli sea link.
"I am confident that this partnership will enable us to craft an iconic development known for its unmatched quality and finest service standards for guests and residents alike. We are positive that we will add a luxury landmark to the skyline of Mumbai," said Vikas Oberoi, chairman & MD of Oberoi Realty.
Founded in 1983, The Ritz-Carlton hotel is engaged in operating a chain of luxury hotels. Currently, more than 30 hotels and residential projects are under development. The firm operates as a fully-owned subsidiary of Marriott International Inc. It other brands are Courtyard, JW Marriott and Edition.
Oberoi Realty focuses on the developments in the residential, office space, retail, hospitality and social infrastructure verticals. In Mumbai, it has completed 36 projects.
(Edited by Joby Puthuparampil Johnson)