Reliance Industries Ltd (RIL) may ask Oberoi Group to manage hotels and serviced apartments that RIL plans to build in Mumbai’s Bandra Kurla Complex (BKC), said two officials, requesting anonymity.
RIL through its real estate venture, Maker Maxity, owns land in BKC. The first phase of the project included five grade-A office buildings, which were constructed and sold in FY10.
In the second phase, a retail mall, membership clubs, a rooftop drive-in theatre and a multiplex mall are under construction. The third phase will involve development of two luxury hotels over 1.2 million sq ft comprising three basement levels, ground floor and 16 stories.
The properties will be leased. “For the upcoming hotel, there were earlier talks with several international firms ...but now they are going ahead with Oberoi Group," the first person said. RIL, through its subsidiary Reliance Industrial Investments and Holdings Ltd, holds 18.53% in East India Hotels Ltd, which runs the luxury Oberoi hotels.