Shinsegae and OKO Partner on $500 Million Expansion for Aman Group

Shinsegae Group is taking a significant step onto the global luxury real estate stage through a new strategic partnership with international developer OKO Group. Backed by an initial joint investment of $500 million, the collaboration will focus on developing ultra luxury hotels, branded residences, and mixed use destinations for Aman Group in South Korea and key international markets. The partnership combines the strengths of two established industry leaders with a shared ambition to create some of the world’s most sought after hospitality and residential destinations.

The joint venture brings together Shinsegae Property’s expertise in large scale urban developments and OKO Group’s international experience in luxury residential, commercial, and hospitality projects. Together, the companies will pursue development opportunities for Aman Group’s renowned Aman brand, as well as its fast growing sister brand, Janu, while also exploring premium mixed use developments that combine hospitality, residences, retail, dining, and lifestyle experiences. The partnership reflects the growing demand for integrated luxury destinations that appeal to both global travelers and high net worth homeowners.

For Shinsegae Group, the alliance represents an important milestone in its long term international growth strategy. The South Korean conglomerate has built its reputation by developing destinations that seamlessly blend hospitality, entertainment, retail, culture, and lifestyle into thriving urban environments. Rather than focusing solely on commercial real estate, Shinsegae has consistently invested in projects designed to enhance cities while creating lasting economic value for local communities. Expanding that vision through a global partnership positions the company to compete in one of the fastest growing segments of the luxury real estate market.

OKO Group brings decades of international development expertise to the partnership under the leadership of founder and CEO Vlad Doronin, who also serves as Chairman and CEO of Aman Group. Throughout his career, Doronin has developed more than 80 million square feet of luxury residential, hospitality, and commercial real estate across 84 landmark buildings worldwide. His projects are recognized for their architectural distinction, collaborations with globally renowned designers, and ability to transform premium locations into internationally recognized destinations.

Doronin has also overseen a period of remarkable expansion for Aman Group. Under his leadership, the luxury hospitality brand has strengthened its presence with successful openings in global cities including Tokyo, New York, and Bangkok, while continuing construction on new destinations in Dubai, Beverly Hills, Saudi Arabia, Singapore, the Maldives, the Bahamas, Bodrum, and several other international markets. His vision also led to the launch of Janu, Aman Group’s lifestyle focused brand, which debuted in Tokyo in 2024 and continues to expand with an impressive pipeline of hotels and branded residences across the Middle East, Europe, and the Caribbean.

Commenting on the partnership, Shinsegae Group Chairman Yong Jin Chung said the collaboration brings together complementary expertise in development, hospitality, and placemaking to create exceptional destinations that establish new benchmarks for luxury hospitality and residential living. He added that the agreement reflects Shinsegae Group’s commitment to expanding its international presence while creating long term value through world class developments.

Vlad Doronin described the partnership as a natural fit, praising Shinsegae Group’s ability to develop vibrant destinations that successfully integrate hospitality, retail, culture, and lifestyle experiences. He noted that both organizations share a long term vision of creating projects that resonate with international travelers, residents, and local communities while delivering exceptional quality across every aspect of development.

The timing of the partnership also aligns with the continued rise of branded residences, one of the fastest growing sectors within global luxury real estate. Buyers increasingly seek homes connected to internationally recognized hospitality brands that provide premium services, exclusive amenities, professional management, and strong long term investment value. At the same time, luxury travelers are placing greater emphasis on destinations that offer immersive lifestyle experiences rather than traditional hotel stays, making integrated developments increasingly attractive for both developers and investors.

By combining Shinsegae Group’s expertise in creating large scale lifestyle destinations with OKO Group’s global development capabilities and Aman Group’s internationally respected hospitality brands, the joint venture is positioned to capitalize on this growing demand. The collaboration is expected to identify opportunities across major international markets where luxury hospitality, branded residences, and mixed use developments continue to attract strong investment and consumer interest.

More than a financial commitment, the $500 million partnership represents a shared vision for the future of luxury development. As Aman and Janu continue expanding into new global markets, the alliance provides the resources, expertise, and international reach needed to create landmark destinations that blend architecture, hospitality, wellness, retail, and residential living into a single experience. For Shinsegae Group and OKO Group, this collaboration marks the beginning of a long term strategy that could reshape the next generation of luxury hospitality and branded residential developments around the world.