EPDPL Co-Living Pvt. Ltd, part of Bengaluru-based property developer Embassy Group, plans to build co-living facilities in India.
The new venture will start with 20,000 beds to be built on its existing land portfolio, which it aims to grow to more than 100,000 owned and operated beds in five years. The co-living brand focuses on growing housing for the migrant millennial workforce and students.
The company will launch the co-living brand by 2019 year-end, with the first project in Bengaluru, followed by one in Pune.
Other players of the co-living space in India include the real estate firm Puravankara, which launched its first 350,000-square-foot co-living space in Goregaon, Mumbai; and Salarpuria Sattva Group, which bought a 50 percent stake in the Bengaluru-based startup CoLive.
The co-living segment in India has the potential to grow into a $93 billion market if operators focus on improving the quality of services and charge reasonable rates, a custom
