Nestaway’s foray into the student housing market will heat up competition
Nestawayhas announced its foray into student housingand co-living with its subsidiary ‘The Hello World’.
- It is present in 15 cities and 10,000 beds with a 90% occupancy rate.
- Student housing in India has the potential to attract $50 billion in investments said a recent report by Knight Frank.
As the number of migrant students swells, the student housing sector attracted large real estate players, investors and more. Property consultant firm Knight Frank in its 'Global Student Property 2019' report said that the sector received an investment of $100 million and could go as high as $50 billion in the near future “to meet the current demand-supply gap of eight million beds”.
“The millennial population in India prefers to stay in a community where they not only share space but also interests, passions, and dreams. At HelloWorld, we host well-designed community events that bind the residents together, enriching them emotionally,” said Jitendra Jagadev, Founder, The Hello World.
It now aims to expand to 50,000 beds in the next year by expanding to 9 more cities.
There are other startups chasing this market as well –
Stanza Living has been ramping up its operations and has scaled workforce three-fold in the last quarter to 750. It is currently present in 9 cities with over 22,000 beds, aims to expand to one lakh by 2021. The startup raised $70 million from marquee investors like Sequoia, Matrix partners and more.