Embassy Group has announced its foray into the co-living segment with a planned investment of $ 500 million amounting to ₹3,500 crore over the next couple of years to expand its business across major cities. The Bengaluru-based builder operates WeWork business in India and has set up a new company 'EPDPL Co-Living' to enter the new business, which will cater to the need of working professionals and students. The new co-living business initiative will start with 20,000 beds to be built on its existing land portfolio and has a target of reaching over 1,00,000 owned and operated beds in the next five years, COO Aditya Virwani said that it entered into co-working segment and now co-living as they are complementary to its core business which is development of housing and commercial projects. Embassy's concept of co-living aims to uplift the standard of living by offering quality hospitality services to this segment. The co-living spaces have been thoughtfully crafted to exceed the expectations of the millennial looking for a community that feels like home. There are over 35 million students in higher education and the migrant millennial workforce is growing at a rapid pace.
📅Published on:
30 August 2019
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