MANAMA: VKL and Al Namal Group, a multinational conglomerate founded by Bahrain-based businessman Varghese Kurien, who is chairman of the group, is entering the co-living homes sector in India through an operating agreement with Square Plums, a new brand of co-living homes based in the southern Indian city of Bengaluru.
As part of the agreement, VKL and Al Namal Group plans to build two million square feet of co-living homes in Indian metro cities.
The group has earmarked an investment of about $45m for the project.
The agreement was facilitated by Exelon Solutions, a strategic marketing partner for Square Plums.
Co-living homes are fully furnished, ready-to-move-in homes based in gated communities available on rent for youngsters relocating to cities.
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