Experion Developers to pump $300 mn for student housing market

10 Nov 2021 CW Team

Realty developer Experion Developers will pump in $300 million in India’s student housing market as demand for co-living has improved following the Covid-19 disruption.

CEO and board member of Experion Developers, BK Malagi, told the media that they plan to open their first property in the next academic year, which would start in June 2022. They would go with an asset-heavy approach in which they hold and manage the property.

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

Malagi told the media at the moment, the majority of co-living operators procure or lease existing buildings that were not developed with this segment's requirements in mind. But, they intend to build it for student housing or coliving.

The company is in talks with universities for partnerships in which it would develop and run a student housing facility on campuses.

Malagi said that there would be a combination of oncampus and off-campus facilities. They are in discussions with several colleges regarding campus facilities, and one of the largest, with 28,000 beds, might be built soon.

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