Bengaluru-based Nestaway Technologies, which is into rental property management, has forayed into the co-living business with the launch of its subsidiary, The Hello World. The company is planning to invest $10 million this fiscal to reach 50,000 beds.
Hello World will be catering to both students and professionals. Currently, it is available in 15 cities, including Bengaluru, Hyderabad, Delhi-NCR, Pune, Kota, and Dehradun.
Jitendra Jagadev, Founder, The Hello World, said, “We are entering into this business and have a presence in 15 cities with a capacity of 10,000 beds. The 15 cities include Bengaluru, Hyderabad, Delhi/NCR, Pune, Kota and Dehradun. The co-living centres are running well and already achieved 90 per cent occupancy level.”
“It is important for urban migrants to find a sense of belonging in a new city and a place to call home. Our key factor will always be to provide emotional safety to our customers while encouraging community living. At Hello World, we host well-designed community events that bind the residents together, enriching them emotionally,” he added.
Founded in 2015, the Bengaluru-based company is catering to individuals looking for affordable rental housing in the top cities in India. Through the acquisition of Zenify in May 2017, Nestaway also entered the family rental solution business.
Want to invest in a co-living franchise? Visit Franchise India 2019, Asia’s Biggest Franchise & Retail Show, and give wings to your entrepreneurial dreams.
