Bengaluru-based StayAbode Ventures has announced what is slated to be perhaps the largest A grade co-living project in India with 1,400 people living in a community environment in Whitefield area, which houses MNCs and a working population of over 50,000 millennials.

The company expects to go live with the project by September 2020.

The project will have different living options and layouts, with a host of facilities across dining, gyms, recreation centres and community breakout zones.

StayAbode currently has 1,350 beds across Bengaluru and operates at 97 percent occupancy. As many as 10 more buildings are due to be launched in the city, a company statement said.

‘’We are excited to be leading the space and bringing co-living to the masses. We expect to go live with this project by September 2020 (Which at the time of launch is expected to be the largest co-living asset globally) and are on track to have a community of over 35,000 millennials living with us by December 2021. Given how nascent the asset class is, we are scaling supply with similar partnerships while continuing to innovate and become the most efficient operator of the asset in the industry,” Viral Chhajer, CEO and Co-founder, StayAbode, said.

“This project is expected to define co-living in a new dimension globally, with facilities and a sense of community that will be unparalleled. We are excited to partner with StayAbode owing to their unique approach to tech, community and creating well-oiled spaces. We believe this will be a long-term strategic partnership to create similar spaces across Bengaluru,” said Maninder Singh, Director, CP Developers.

As per a report by the Urban Land Institute (ULI) and PwC, titled 'Emerging Trends in Real Estate Asia Pacific 2019', rising housing costs in major markets across Asia have translated to ever-smaller living spaces as developers continue to cut unit sizes. One consequence of this is the rise of co-living facilities in the most expensive urban areas.