Strategic joint partnership focused on the development of ultra-luxury hotels and branded residences, and mixed-use real estate in key international markets
Shinsegae Group, one of South Korea’s largest retail conglomerates, and OKO Group, the international real estate development company led by investor and real estate developer, Vlad Doronin, jointly announce today a strategic partnership that will pursue and execute luxury hospitality, residential and mixed-use development opportunities in key markets globally.
With an initial shared investment of $500 million, the joint venture will lead and develop luxury hotels and branded residences for Aman Group – including projects for its ultra-luxury brands Aman and Janu in South Korea and internationally, as well as pursue mixed-use commercial real estate developments.
The partnership brings together the Group’s Shinsegae Property subsidiary’s capabilities in large-scale multi-purpose developments, with OKO Group’s extensive global expertise in developing and operating luxury residential, hospitality and commercial real estate assets.
Shinsegae Group has established a reputation for creating developments that organically integrate hospitality, entertainment, culture, and lifestyle experiences. Through its real estate and development projects, Shinsegae Group has successfully delivered iconic projects that have transformed urban environments and strengthened local economies.
Founder and CEO of OKO Group, and Chairman and CEO of Aman Group, Vlad Doronin is an accomplished international real estate investor and developer of luxury residential, commercial and hospitality properties. Having built over 80 million square feet of world-class assets spanning 84 buildings, Doronin has developed an international portfolio of landmark projects and has earned a reputation for delivering architecturally distinctive destinations in collaboration with some of the world’s leading architects.
At Aman Group, a distinguished collection of hotels and branded residences operating in 21 countries, Doronin has placed emphasis on the brand’s financial health and operational efficiency. His strategy and continued commitment to open in cities has seen the successful launch of Aman properties in Tokyo, New York, and Bangkok along with a robust pipeline under construction in Dubai, Beverly Hills, Saudi Arabia, Singapore, the Maldives, Bahamas, Bodrum and more. Doronin’s vision and pioneering spirit led to the launch Janu, Aman’s sibling brand, which is focused on driving meaningful connection, adding value to Aman Group by reaching new markets and guest demographics. Janu hotel in Tokyo successfully opened to critical acclaim in 2024, with a robust pipeline of forthcoming hotels and branded residences under construction in Dubai, Turks and Caicos Islands, Saudi Arabia, Montenegro and more.
Commenting on the partnership, Yong Jin Chung (YJ Chung), Chairman of Shinsegae Group, said:
“We are pleased to enter this strategic partnership with Vlad Doronin. By bringing together complementary expertise in development, hospitality and placemaking, we believe we can create exceptional destinations that set new benchmarks in luxury hospitality and residential living around the world. This partnership reflects Shinsegae Group’s continued ambition to expand its global presence and pursue long-term value creation through world-class projects.”
Vlad Doronin, Founder and CEO of OKO Group, said:
“OKO Group is delighted to partner with Shinsegae Group led by Chairman YJ Chung, whose expertise in development and financial markets I greatly admire. Under Chairman YJ Chung’s leadership, Shinsegae Group has demonstrated a remarkable ability to develop vibrant destinations that combine hospitality, culture, retail and lifestyle experiences. We share his long-term vision for creating distinctive projects that resonate with global travellers, residents and local communities. Together, we look forward to exploring opportunities that draw upon our respective expertise and deliver exceptional developments in key international markets.”
The partnership represents an important step in Shinsegae Group’s global expansion strategy and underscores both parties’ commitment to developing luxury hospitality and residential destinations that contribute to the long-term growth and appeal of the markets in which they operate.
