For a consideration of Rs 1040 crOberoi Realty announced that Evenstar Hotels (Evenstar), a wholly owned subsidiary of the Company, has purchased and taken possession of a hotel property (together with appurtenant rights, proportionate interest in common areas, and conveniences) situate at Dr. Annie Besant Road,
Worli, Mumbai, for a consideration of Rs. 1040 crore.
The hotel property is a 221 key 5 Star hotel and will be operated and managed under the Ritz-Carlton brand. Prior to the acquisition by Evenstar, the hotel property was owned by Oasis Realty (an
association of persons), and is part of the project Three Sixty West developed by Oasis Realty.
Oberoi Realty buys Sahana Group’s 50% stake in Worli project for Rs 1,040 crore: Report
Situated on Dr Annie Besant Road, the hotel is to be operated by the Ritz-Carlton and is part of Oasis Realty’s Three Sixty West project December 19, 2020 / 01:02 PM IST
Oberoi Realty has bought out Sahana Group’s 50 percent stake in the under construction 221-key five-star hotel in Mumbai’s Worli area for Rs 1,040 crore.
The luxury property was acquired through Oberoi’s subsidiary Evenstar Hotels from Oasis Realty in which Sahana Group’s Sudhakar Shetty held 50 percent stake, The Economic Times reported.
Moneycontrol could not independently verify the report.
Oberoi Realty buys out Sahana Group’s stake in Worli hotel for Rs 1,040 crore
Share
Synopsis
The developer has purchased and taken possession of the under-construction hotel property on Dr. Annie Besant Road through its wholly-owned subsidiary Evenstar Hotels, the company said in a regulatory filing.
Prior to the acquisition by Evenstar, the hotel property was owned by Oasis Realty, in which Sudhakar Shetty’s Sahana Group held 50% stake.
MUMBAI: Realty developer
Oberoi Realty has bought out its partner Sudhakar Shetty-led Sahana Group’s entire 50% stake in an upcoming five-star luxury hotel property in Mumbai’s plush Worli locality for Rs 1,040 crore.