Experion to invest $300 milion in student housing

Experion to invest $300 milion in student housing

Real estate developer Experion Developers Ltd will invest $300 million in the country’s student housing market as demand for co-living has recovered following the Covid-19 disruption, a top official said.

“We plan to open our first property in the next academic year, which will begin in June 2022,” said BK Malagi, CEO and board member of Experion Developers. “We’ll go with an asset-heavy approach in which we own and operate the property.”

The Indian arm of Experion Holdings Pte Ltd, Singapore aims to reach 50,000 beds in two years. Its first property will open soon in Greater Noida with 750 be drooms. Experion plans to follow it up with properties in Jalandhar, Hyderabad, Bengaluru, Pune, and Mumbai.

“At the moment, the majority of co-living operators acquire or lease existing buildings that were not built with this segment’s needs in mind,” Malagi said. “However, we intend to build it for student housing or coliving.”

The company is in discussions with universities for partnerships in which it will build and operate a student housing facility on campuses.

“There will be a combination of oncampus and off-campus facilities,” Malagi said. “We are in talks with numerous colleges about campus facilities, and one of the largest, with 28,000 beds, might be completed shortly.”

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