CapitaLand Investment’s wholly-owned lodging division, Ascott, has entered into a management agreement with Innovative Group for the development of a new Oakwood-branded hospitality property in Navi Mumbai. This strategic partnership underscores Ascott’s dedication to redefining luxury and signifies a significant milestone in the company’s expansion strategy in India, promising an unmatched experience for both business and leisure travelers.
Facilitated by Roger Bravo Advisors, the management agreement was announced in the presence of Hoshang Garivala, Country General Manager, and Anand Rai, Assistant Director of Business Development, representing Ascott International Management India, along with Amar Jadhav, Managing Director, and Parth Jadhav, Director, from Innovative Group, and Mayank Nandan, Director, from Roger Bravo Advisors.
Navi Mumbai’s rapid infrastructural growth, including the upcoming international airport, the recently inaugurated Atal Bihari Vajpayee Trans Harbour Link, commercial parks, industrial zones, and the presence of India’s largest container port, coupled with dedicated Data Centre zones, positions the region as a prime investment hub in the hospitality sector. The signing of the Oakwood property underscores Navi Mumbai’s emergence as a premier destination for travelers seeking luxury experiences amid a thriving urban landscape.
Scheduled to commence operations by March 2026, the property strategically sits in the central business district of Navi Mumbai, within the Mumbai Metropolitan Region (MMR). With a planned total of 125 hybrid units, comprising hotel rooms and serviced residences, the property will offer a range of amenities including food and beverage options, versatile meeting and banquet spaces, a gym, and a swimming pool. This comprehensive setup aims to meet the diverse needs of guests, ensuring an unparalleled experience that seamlessly blends contemporary comforts with the warmth of traditional Indian hospitality. Its strategic location makes it an ideal choice for both business and leisure travelers, providing easy access to key commercial districts, shopping centers, and tourist attractions in Navi Mumbai.
Hoshang Garivala, Country General Manager, Ascott International Management India, expressed enthusiasm about the new property, stating, “We are thrilled to announce the signing of our latest property in Navi Mumbai. Navi Mumbai is a dynamic and rapidly growing city, and we believe that our property will not only complement its vibrant atmosphere but also set new benchmarks in upscale accommodation. This expansion aligns with our vision to create exceptional hospitality experiences in strategic locations across India. The property marks another milestone in our journey as we continue to grow across the country.”
Amar Jadhav, promoter of Innovative Group, highlighted their association, saying, “With over 10 years of experience in the Navi Mumbai market, we’ve witnessed its remarkable transformation firsthand. From burgeoning residential landscapes to thriving commercial hubs, the city has seen consistent and impressive development. This growth trajectory is poised to accelerate further with ongoing infrastructure development. In these exciting times, we’re proud to announce our collaboration with Oakwood, a brand renowned for its exceptional offerings in the hospitality space. We are confident that we will deliver a world-class service apartment project, which is the need of the hour.”
