Oberoi Realty Executes Development Agreement for Luxury Hotel and Residential Project in Alibaug

Oberoi Realty Ltd. has executed a Development Agreement for a land area of approximately 81.05 Acres in Alibaug, Maharashtra. The Company plans to construct a high-end luxury 5-star hotel/resort on 8.6 Acres, consuming FSI of 30,000 square meters. The remaining 72.45 Acres will be used for approximately 150 high-end luxury, fully serviced, branded residential villas, consuming FSI of approximately 1,20,000 square meters. The Company has taken physical possession of the land and the consideration for the transaction is in the form of revenue and area share from the residential project.