I Ven Realty, a joint venture of Oberoi Realty, its promoter Vikas Oberoi and Alpha Wave Ventures, has entered into an agreement with Switzerland based Aman Group to develop a luxury hotel and residential project in the Worli neighbourhood of Mumbai. The venture will bring the Aman brand to the city and will combine hotel operations with branded private residences. The arrangement follows a hotel management, branding and marketing agreement for 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 residences will be branded and marketed under the Aman name.

Aman will manage and operate the hotel under the Aman brand, with the hotel 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. The residences will be developed, marketed and sold using licensed Aman marks and will be managed under the same brand.

The strategic ownership of the joint venture sees Oberoi Realty hold 39.13 per cent, Vikas Oberoi hold 39.13 per cent and Alpha Wave Ventures hold 21.74 per cent of the SPV. The project signals a long term horizon for luxury hospitality investment in Mumbai and is likely to reinforce the presence of branded luxury residences in prime locations. The report was first uploaded on 12 February 2026 at 00:59 IST.