Oberoi Realty, a property developer, is currently in discussions with global hospitality giants Marriott International and Grand Hyatt to manage and operate a luxurious five-star hotel property in Thane, Maharashtra.
The company plans to develop a 300-key hotel as part of a comprehensive integrated project spanning approximately 75 Acres. This will mark the first establishment of a five-star hotel in Thane, situated near Mumbai, the financial capital of the country.
The planned integrated development will encompass a total built-up area of 15 Million-SqFt and will include premium residential, office, and retail projects, along with an international school. The estimated investment for the project’s phased development is expected to reach around 10,000 INR-Crore.
The initial phase, which will commence soon, will cover an estimated development area of 3-4 Million-SqFt, incorporating the hotel, residential units, and school. The hotel and international school components of the project are currently in the design phase, and the company is set to announce the brands involved in the near future. The first phase of the project, anticipated to launch later this year, is estimated to be completed within a span of 3-4 years.
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