The Embassy group ventures into the co-living sector under the banner of EPDPL Co-Living Private Limited. While starting the operations, the company will offer 20,000 beds that will be developed on the current land parcels.
The company aims to achieve more than 100,000 beds owned and operated by them in the next five years as the professionals working in other cities are the target clients. The Embassy group has planned the official brand launch by the year-end with its maiden project in Bengaluru and then in Pune.
According to a leading real expert firm, the current market in the top seven cities is projected to reach 7 million by 2023 as the growth potential stands at USD 93 billion per year.
Aditya Virwani, COO, Embassy group said that the company aims to escalate the living standards by offering world-class hospitality services as the demand for such accommodation is rising with the increase in migrating professionals and students.
Kahraman Yigit, co-founder, Embassy Co-Living, said that the workforce and the students today look for accommodations that offer smart living and easy connectivity. Thus, the co-living spaces will be designed while keeping in mind the requirements of the clients. These spaces will match the international safety standards and are planned to have ultra-modern amenities along with green spaces to protect the environment.