Oberoi Realty to Develop Major Mall, Hotel, and Office Space in Worli, Mumbai

Oberoi Realty is set to launch a significant real estate project in Worli, Mumbai, comprising a 1.8 million sq. ft. development that includes a mall, a hotel, and commercial office space. The company plans to break ground on this ambitious project within the next two quarters, with the mall expected to cover between six and seven lakh sq. ft., while the hotel will occupy around 80,000 to one lakh sq. ft. The remaining area will be dedicated to office space.

This project marks a significant expansion of Oberoi Realty's portfolio in Mumbai, a city known for its premium real estate market. The inclusion of a mall, hotel, and office space is a strategic move to cater to the diverse needs of businesses and consumers in one of Mumbai's most sought-after locations. The development in Worli is poised to become a key landmark, offering luxury retail, hospitality, and commercial opportunities.

In addition to the Worli project, Oberoi Realty is also planning to launch several other developments across Mumbai. These include a new project on Pokhran Road in Thane and two residential towers in Borivali and Goregaon, further solidifying the company’s presence in the city’s real estate market. These projects align with Oberoi Realty's strategy to expand its footprint in both the residential and commercial segments.

The Worli plot was acquired by Oberoi Realty in 2013 through a joint venture with ICICI Venture Funds Management Company, under the name I-Ven Realty. The plot, previously owned by GlaxoSmithKline Pharmaceuticals, was sold for over ₹107 crore. The strategic location and scale of this project underscore Oberoi Realty's commitment to developing high-quality, mixed-use properties that cater to the growing demand for premium spaces in Mumbai.

As work is set to begin soon, this development is expected to play a crucial role in shaping the future of Mumbai’s real estate landscape, offering a blend of luxury, convenience, and business opportunities in one of the city’s prime areas.

News by Rahul Yelligetti