The real estate developer plans to hike its presence in Lucknow, Gurugram and Amritsar. It will also make an entry into Bengaluru, Pune, Hyderabad and Mumbai markets.
“We want to be in all the major metro cities and are already in talks to start a project there,” BK Malagi, chief executive and board member of Experion Developers, told ET.
The Indian arm of Experion Holdings, Singapore – a real estate investing arm of the $2.5 billion AT Holdings group of companies – has so far focused on Gurugram and Lucknow.
The company also has a 100-acre land bank in Amritsar where it has planned plotted development.
“About 70-80% of the total development will be residential while we have planned close to 3.5 lakh square feet of commercial development as well. There is a lot of interest in plotted development apart from super luxury housing,” Malagi said.
Experion is developing townships, group-housing projects, commercial landmarks, organised retail destinations, hotels and resorts across Andhra Pradesh, Delhi NCR, Goa, Haryana, Maharashtra, Punjab, Tamil Nadu and Uttar Pradesh.
It also plans to invest $300 million in the country’s student housing market as demand for co-living has recovered following Covid-19 induced disruptions.
The company is in talks with universities about forming partnerships in which it will build and operate a student housing facility on campuses.
Home sales in India’s eight leading markets underwent a significant improvement during the July-September period (Q3 of 2021) as demand for residences picked up after the second wave of the pandemic, according to Real Insight (Residential) – July-September (Q3)2021, by online real estate company PropTiger.com.
A total of 55,907 new housing units were sold in these markets during the three-month period, an upswing of 59% compared to the same period in 2020.
Sequentially, home sales showed much stronger growth of 250%, as only 15,968 units were sold during the April-June period this year (Q2), the report showed.