Latest News | World Trade Centers Ties Up with Coliving Operator CoHo; Launches 10k Beds
Get latest articles and stories on Latest News at LatestLY. World Trade Centers (WTC) has tied up with coliving operator CoHo to offer around 10,000 beds for providing rental housing to students and working professionals.
New Delhi, July 20 (PTI) World Trade Centers (WTC) has tied up with coliving operator CoHo to offer around 10,000 beds for providing rental housing to students and working professionals.
WTC's partnership with CoHo is under revenue-share model for converting its residential assets into coliving spaces for millennials.
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"We have entered into partnership with WTC to run co-living centres. We will manage these properties," CoHo founder and CEO Uday Lakkar told PTI.
Through this partnership, the two companies will provide more than 10,000 beds across cities like Gurgaon, Noida, Ahmedabad and Chandigarh, he added.
Commenting on the partnership, Khair Ull Nissa, Executive Director-WTC Services, said, "WTC is a trusted global brand which is always looking at new and exciting opportunities to grow."
"A strategic partnership with an experienced and trusted coliving brand like CoHo helps us innovate in our existing & upcoming projects across India," she said.
With the current pandemic, Lakkar said there is a growing preference towards quality offerings and work from home (WFH) setups.
"We expect that our managed spaces driven by tech and quality shall provide aspirational yet affordable offering for millennials in India," he added.
According to a report by PropTiger and Housing.com, coliving business has the potential to become a USD 93-billion market annually on rising demand for rental housing from students and professionals. The coliving sector has total untapped demand of about 46.3 million beds, out of which, 8.9 million is from student housing.
CoHo, which started its operations in 2015, currently has about 3,500 beds mainly in Delhi-NCR and Bengaluru.
The World Trade Centers stimulates trade and investment opportunities for commercial property developers, economic development agencies, and international businesses looking to connect globally and prosper locally.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)