PLACIO, a student housing company, has forayed into co-living segment. The company has partnered with Kuwait-based Arabian Link for co-living, which will also be its first venture into the international markets.
Mustafa Shikora, Founder of Arabian Link, said, “The co-living segment, an emerging sector in real estate, has the potential to grow into a $93-billion market in India. In India, the co-living sector has total untapped demand of approximately 63 million beds, out of which 30 million is from student housing. This segment suffers from huge mismatch between demand and supply.”
PLACIO and Arabian Link will be jointly expanding in the Gulf Corporation Council (GCC) region including Qatar, United Arab Emirates (UAE), Oman and Bahrain.
Rohit Pateria, Founder, PLACIO, stated, “After gaining rich experience in managing student housing operations and hospitality in India, our next move is towards the co-living segment that has huge potential globally. Globally, the concept of co-living is cost effective, however in India it is still at a nascent and evolving stage.”
“Our partnership with Arabian Link is our first move to enter the global market and we are very much excited to deliver our best, globally too,” he added.