Business

Embassy eyes co-living infra with ₹2,000 cr. chest

To ready 20,000 beds across 3 cities

Embassy Group is to invest ₹2,000 crore in developing next-generation co-living infrastructure for students and young professionals across six cities in India.

The builder’s co-living brand Olive by Embassy has a mandate to ready 20,000 beds in the next 12 to 18 months, according to the group.

Aditya Virwani, COO, Embassy Group and co-founder, Olive, said in the first phase, the company would ready 20,000 beds — with Bengaluru getting 15,000, Chennai 2,500 and Pune 2,500. “The shared economy concept has percolated to all aspects of society, creating... disruptions as well as opportunities. There are over 36 million students in higher education and the migrant millennial workforce is growing at a rapid pace across metros,” he said.

In the second phase, the company is planning to add more co-living spaces in Bengaluru, Hyderabad, Mumbai, Pune and Delhi NCR with a vision to take the brand international over the next few years.

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Printable version | Feb 23, 2020 10:35:19 AM | https://www.thehindu.com/business/embassy-eyes-co-living-infra-with-2000-cr-chest/article30618421.ece

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