Atmosphere Living and Midas Group signed a memorandum of understanding on 6 September 2026 to develop and manage about 1,000 keys within three years. Udaipur carries the first project.
The announcement reached the trade press with a New Delhi dateline of 15 September, nine days after the signing.
The first site
The Udaipur development covers about 30 acres and is anchored by a planned 300-key hotel and resort. The release positions it at luxury leisure stays, destination weddings, celebrations and events, for domestic and international travellers.
The dates
The release targets completion and launch from 2030 onwards. It gives no construction start, no land value and no investment figure.
Who signed
Sandeep Ahuja, Managing Director of Atmosphere Living and ONE Atmosphere, called Udaipur a starting point given its cultural heritage and its potential as a luxury leisure and celebrations market.
Durga Prasad Agarwal, Promoter of Midas Group, said the partnership is meant to extend beyond one development. Agarwal joined the signing, which the release says was marked with a gathering at the soon-to-open ONE Atmosphere Suites in Gurugram.
The two companies
Atmosphere Living is the branded-residences arm of the Atmosphere Core portfolio and publishes Ahuja as its managing director.
Midas Group is based in Jaipur. Its interests run across real estate, hospitality, hotels and insurance broking. The group has developed more than 5 million square feet of residential and commercial space and holds the heritage property Mukundgarh Fort, associated with the Storii brand of ITC Hotels. It plans expansion across Jaipur, Pushkar and Goa.
What the announcement leaves open
The release names no operator or brand for the 300 keys, no architect, no funding source and no site address. Four trade copies carry the same text. None adds a figure, a site or a party that the release does not carry.