Embassy Group First Co-Living Centre in Bengaluru

Olive by Embassy, the company’s co-living brand, launched its asset-light management business Olive Residences. The aim is to touch 100 buildings by the end of 2021 across major cities like Bengaluru, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR. Olive Residences launched its first property in Koramangala where 1 BHK residences are ready to be moved in. Two more properties in Magrath Road and Indiranagar of the city will be ready in the next three months. The group will target college students and professionals employed with multinational companies housed in and around its business parks. The plan is to target 100,000-owned and operated beds over the next few years. The group is looking to make the most of a growing global trend. The co-living sector has become an asset class comparable to multi-family accommodation within the same age-group as standard amenities, communal living and comparably lower costs appeal to the millennials.