Mumbai, 19th August 2026: Mumbai’s real estate sector is seeing more interest from major corporate groups, with several large companies now entering a space that has traditionally been dominated by real estate developers.
Oberoi Realty CMD Vikas Oberoi has welcomed the entry of these corporate giants, saying it could bring more credibility to the real estate industry.
“I would say it is great; finally they recognise real estate as an industry, and it will only bring more respect to the business,” Oberoi said.
At the same time, Oberoi said that being a larger company does not necessarily confer a cost advantage in real estate. He compared the sector with industries such as cement and petrochemicals, where scale can significantly bring down costs.
“In real estate, in any part of the world, you’ll have very small, large and very large developers, and they all compete in the same space,” he said.
According to Oberoi, larger developers can also end up spending more to maintain the quality of their projects, while smaller developers can continue to find their own space in the market.
The shift is particularly visible in Mumbai’s redevelopment sector. In May 2026, major names including Adani Realty, Lodha Developers, JSW Realty and a Reliance Industries-led consortium were among the companies competing for large cluster redevelopment projects offered by MHADA.
Reliance Industries’ real estate arm, Reliance 4IR Realty Development, subsequently won the redevelopment rights for the 101-acre Juhu Lane-Gilbert Hill slum cluster in Andheri.
Vedanta has also entered the sector through Vedanta Property Platforms Ltd, a wholly owned company focused on real estate.
Oberoi believes the ongoing global uncertainty could also create opportunities for businesses.
Speaking about the impact of major disruptions, he drew a comparison with the period following the COVID-19 pandemic and referred to it as a “spring effect”, where a period of slowdown can eventually be followed by a strong recovery.
“Whatever COVID-19 did to hold back, it was a spring effect,” he said.
He added that despite wars, geopolitical tensions and other global disruptions, economies have continued to recover, creating opportunities for businesses that are willing to move forward during uncertain periods.
Oberoi Realty has also been expanding beyond Mumbai. The company entered the Delhi-NCR market with its first project, Three Sixty North, in Gurugram, which was launched on June 29.
Located on Golf Course Extension Road in Sector 58, the project is spread across 14.8 acres and involves an investment of around ₹6,000 crore.
The development will have seven towers, with the first phase comprising more than 800 residences across six towers. Prices start at ₹18 crore, excluding taxes, with options including 3 BHK + studio, 4 BHK + studio, duplexes and penthouses.
The project will also feature a club along with around 2 lakh sq ft of retail space, including cafes and food outlets.
With more corporate groups entering real estate and developers expanding into new markets, Mumbai’s property sector is seeing a broader mix of players competing across redevelopment and premium housing projects.
