As per the plan, Union Living will launch 220 beds in Mahalakshmi, 180 beds in Juhu, 100 beds in Khar/Santacruz, 150 beds in Goregaon/Malad, 100 beds in Chembur, and 200 beds in Navi Mumbai.
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Among these, a minimum of three properties, comprising around 500 beds in total, will be developed as built-to-suit properties, offering customized facilities to better cater to the needs of occupants. These built-to-suit properties are expected to go live by July this year.
“The strategy of new properties within Mumbai micro market reflects Union Living’s commitment to providing quality living spaces in diverse neighborhoods, catering to the specific needs and preferences of its target tenants,” said Rishabh Soni, cofounder, Union Living.
The company will be investing Rs 10 crore on this expansion. The fund will be largely used for security deposit to landlord and interior works of its new centres.
“In addition to expanding in Mumbai, we have plans to introduce new properties in Pune and other cities,” said Parth Soni, co-founder, Union Living.
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Started in 2020, Union living current portfolio includes 1,050 operational beds across nine properties in Mumbai, Pune and Ahmedabad. The company caters to students, working professionals, and also provides short-term stay facilities. Ends