Construction Industry News
Real estate developer Experion Developers will pump $300 million into India's student housing market as demand for co-living has improved after the Covid-19 disruption.
CEO and board member of Experion Developers, BK Malagi, told media that they plan to open their first premises in the next academic year, which would begin in June 2022. They would go for an asset-heavy approach in which they hold and manage the property.
The Indian branch of Experion Holdings Pte Limited, Singapore, plans to reach 50,000 beds in two years. The first 750 bedroom property will open soon in Greater Noida. Experion plans to follow it up with properties in Bengaluru, Hyderabad, Jalandhar, Pune and Mumbai.
Malagi told the media at this time that most co-living operators buy or lease existing buildings that have not been developed with the demands of this segment in mind. But they plan to build it for student housing or coliving.
The company is in talks with universities for partnerships in which it will develop and operate student housing on campuses.
Malagi said there would be a combination of on-campus and off-campus facilities. They are in talks with several colleges about campus facilities and one of the largest, with 28,000 beds, could be built soon.
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