Shapoorji Pallonji pushes co-living realty projects in Maharashtra
Shapoorji Pallonji Real Estate has planned to foray into diversified portfolios and capitalize on an alternative asset class targeted at millennials relying on renting instead of owning homes. The group firm, which builds luxury to mid-income homes, will build the co-living projects in Pune and Mumbai Metropolitan Region. CEO, Venkatesh Gopalkrishnan, informed that the company will start these housing projects in a measured but serious manner as an offshoot of its existing projects. Over the next decade, there will be a huge potential because of the demographics, increased pace of working from home and rising spent on education, and there are not many organized players. In the mid-to-long term, it has to be rolled out as a separate business and partnered with an investor to scale up. The Mumbai-based company ranks among a handful of mainstream real estate developers who have ventured into the co-living space, dominated by investor-backed startups. Earlier this year, Bengaluru-based real estate firm Embassy Group launched co-living business Olive by Embassy group, targeting a growing, young working population in metros.
📅Published on:
04 December 2020
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