Oberoi Realty signs Samsung C&T for its iconic South Mumbai project

Oberoi Realty signs Samsung C&T for its iconic South Mumbai project

Awards contract to construct it’s mixed use development at Worli

Online PR News – 17-October-2012 – Mumbai, Maharashtra – Oberoi Realty today announced that it has appointed Samsung C&T Corporation as its general contractor for the iconic high rise mixed use project in Worli, Mumbai, to be developed under Oasis Realty (a joint venture between Sahana and Oberoi Realty).

Samsung C&T Corporation, one of the finest construction and engineering companies, has constructed many of the world’s tallest landmark building projects like the Burj Khalifa in UAE and the Petronas Tower in Malaysia. This contract marks the entry of Samsung C&T Corporation into the building construction space in India. The project is scheduled to be completed phase-wise over a period of 53 months.

Commenting on the same Vikas Oberoi - Chairman & Managing Director, Oberoi Realty said, “We are extremely pleased to have Samsung C&T on board for our iconic mixed use development. Samsung C&T Corporation has a track record of constructing the world’s tallest landmark buildings using advanced construction technology. I am confident that this association will enable us to strengthen and grow Oberoi Realty’s vision of bringing the best international construction practices to India and contribute one more landmark to the skyline of Mumbai."

Also, commenting on the development, YeonJoo Jung, President and CEO of Samsung C&T said, “We are very humbled by partnering Oberoi Realty for their high rise mixed-use project in Worli. The project will be a remarkable milestone for Samsung C&T as it would be its first project in India’s high rise development space. Samsung C&T Corporation applies extensive experience, expertise and knowledge in construction and project management especially for high rise buildings, therefore the successful completion of this iconic building would also be vital for Samsung C&T’s future growth in Indian market.”

The proposed high rise mixed use development at Worli, Mumbai has three phases comprising of a residential tower, commercial office space and a luxury hotel. The building is designed by KPF (Kohn Pedersen Fox Associates), USA, one of the leading architectural firms of the world. The structural consultant is LERA (Leslie E. Robertson Associates), USA, again one of the leading structural engineering consultants of the world. Other than this, several other leading world-renowned consultants for services like wind engineering, façade engineering, MEP services, vertical transportation, landscaping and quantity surveys are already on board for this project.

About Oberoi Realty
Oberoi Realty Ltd., a premium real estate development companies, headquartered in Mumbai, is focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals. Oberoi Realty has an established brand and a track record in the real estate industry of developing innovative projects through its emphasis on contemporary architecture, strong project execution and quality construction. Oberoi Realty seeks to create “destination developments” through its mixed-use and single-segment developments. More information about the company is available on www.oberoirealty.com

About Samsung C&T Corporation
Samsung C&T Corporation provides its clients with peerless products and services through use of outstanding talent and technology in the 6 core product areas which symbolize advanced construction technology and include the construction of skyscrapers, high-tech factory facilities, roads and bridges, harbours, power plants and apartment complexes. Samsung C&T Corporation currently plays the leading role in the construction of several of the world’s largest building projects such as the Burj Khalifa in the United Arab Emirates and Malaysia’s PETRONAS Tower, and has made a name for itself as one of the world’s finest engineering & construction companies.

Forward Looking Statements
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Oberoi Realty Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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