Oberoi Realty partners with Ritz-Carlton for Mumbai project.

Mumbai-based Oberoi Realty is partnering with the US-based Mariott International brand Ritz-Carlton for managing and operating its mixed use development project in Worli, Mumbai.

The two parties, however, declined to disclose financial value of this tie-up.

The project would comprise development of 140 residential apartments and 238 hotel rooms spread across 2.1 million square feet.

The dimensions of the residential apartments would be between 8,500 square feet and 20,000 square feet.

This project would be developed by Oasis Realty, a joint venture between Sahana and Oberoi Realty, and would comprise two high-rise towers.

The project also marks Ritz Carlton's first venture into mixed use development in India.

According to Vikas Oberoi, Chairman and Managing Director, the company plans to begin hotel operations in 2016-18.


HBL