PLACIO Goes Global & Enters Co-Living Segment; Inks First International Partnership with Kuwait Based Arabian Link with 3000+ Rooms in Kuwait
In a strategic move, PLACIO, a Student Housing company has announced its foray into the International market thus venturing for the first time into the co-living segment. PLACIO has partnered with Kuwait based Managed Housing Company, Arabian Link for its first overseas venture. Arabian Link has chosen PLACIO from many other Professional Co- Living O&M companies in India and GCC region to expand its operational bandwidth across the GCC.
PLACIO signed this contract to manage 3000+ rooms as an O&M Partner and in Phase 1 rolling out its cutting edge technology platform, setting up staff training program, implementation of Standard Operating Procedure, with an aim to deliver quality living spaces coupled with specialized and customized services. PLACIO and Arabian Link shall jointly expand in GCC region including Qatar, UAE, Oman and Bahrain.
Founded by Mustafa Shikora, Arabian Link is a decade old Co Living/ Corporate Housing company in Kuwait. Mustafa is astute professional with post graduate in Science, having 20yrs+ experience in the Insurance, Investments, Hospitality & Real Estate industries. The company has set the hallmark of execution in Hospitality, facility management and User experience. With this initiative, Arabian Link brings its Global experience in Hospitality and real estate management which significantly compliment PLACIO business. Arabian Link is the largest Co-Living and Managed Rental Company in Kuwait with Annual revenues of USD 10 Million.
According to Mustafa Shikora, “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 co-living 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. He further added that with keen interest in Indian Co-Living and Student Housing Market, he could find out great synergy in PLACIO.”
Speaking on entering the global market, Rohit Pateria, Founder – PLACIO, “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. Globally, the concept of co-living is cost effective, however in India it is still at a nascent and evolving stage. He further added that as per Knight Frank survey, 34 per cent of the country’s population comprises millennials – who have a penchant for frequently switching jobs and homes every few months – and it is this demographics that will continue to drive the consumption story across sectors”.
“Our partnership with Arabian Link is our first move to enter the global market and we are very much excited to deliver our best, globally, too”, adds, Pateria.