The Hindu Business Line
Placio ties up with Kuwaiti firm for expansion in Gulf
Student housing company Placio on Wednesday announced its foray into the co-living segment. Placio has partnered with Kuwaitbased Arabian Link for coliving, which will also be its first overseas venture, according to the company’s statement.
“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 coliving 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,” said Mustafa Shikora, Founder, Arabian Link.
Placio and Arabian Link will jointly expand to the other Gulf Corporation Council (GCC) countries of Qatar, the UAE, Oman and Bahrain.
Arabian Link is a decadeold co-living and corporate housing company in Kuwait.
“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,” said Rohit Pateria, Founder, Placio.