Aman Partners with Shinsegae Property to Plan Seoul Cheongdam-dong Hotel and Limited Residences

Aman and Korea's Shinsegae Property have announced a partnership to develop a mixed-use project facing the Han River in Cheongdam-dong, Seoul, encompassing a hotel, limited Aman Residences, and global Aman Club services available to owners. The announcement was made by Aman, and the project remains in the planning stage, with the opening timeline to be determined by Aman's subsequent official announcements.

Who is leading this partnership?

This collaboration is jointly driven by Shinsegae Property and Aman, with OKO Group, under Aman owner Vladislav Doronin, also directly involved in the joint venture. Since taking over Aman in 2014, Doronin has continued to participate in the brand's development projects across multiple cities worldwide through OKO Group, and the Cheongdam-dong project represents the latest step in their Asian market strategy.

According to information released so far, the two parties have made an initial investment of USD 500 million, which covers the development of the hotel, the sister brand Janu, branded residences, and other mixed-use real estate projects, rather than being the construction cost of a single hotel alone. In other words, the USD 500 million figure represents the starting investment for the overall scope of the partnership. When interpreting this figure, it is important to distinguish the cross-project investment scope from the scale of a single property in Seoul.

Positioning of Aman Residences and club services

The planned limited Aman Residences are branded residences, paired with access to global Aman Club resources for owners. This "hotel plus limited residences plus member club" mixed-use model is a development framework Aman has frequently employed in multiple cities in recent years, with the New York and Bangkok cases serving as useful points of reference.

Taking Aman New York as an example, the property was acquired by Doronin in 2015, with the renovation plan announced in 2017. After several years of construction, it officially opened in 2022, with the combined investment for the acquisition and residential component reaching nearly USD 1.45 billion. Aman Nai Lert Bangkok, meanwhile, saw a partnership announced with the local owner in 2019, with an investment of THB 6 billion confirmed in 2020, and the hotel finally opened in April 2025. These two cases show that Aman branded projects have sometimes required many years of preparation from the announcement of a partnership to the actual opening, but this cannot be directly used to estimate the opening year of the Seoul project. The Seoul project should still be judged based on its own construction progress and official timeline.

Details still pending announcement

For travelers interested in staying at the property, information on room types, booking availability, and rates is distinct from details on the number of residential units and sales conditions for the branded residences, and interested parties should confirm with the respective official channels accordingly. Readers following this development may watch for further official updates from Aman regarding planning details and timelines.