Hyderabad will soon have its very own aero city, and investing in the venture is Boston Living, an incubation venture of INCOR Group that happens to be one of the country’s largest single-location co-living facilities. The company signed agreements with GMR Hyderabad Aero City (of GMR Group) to develop co-living and serviced residences. A first of its kind, the co-living and service residences will have 1500 beds over multiple phases. The entire project is estimated to cost Rs 250 crore.
The new project will be called ‘The Landing by Boston Living.’ As per the agreement, GMR Hyderabad Aero city will be leasing land to Boston Living to develop 0.5 million sq ft of space. The entire project will be on par with international standards, and the company is hoping to complete the first phase of the project by the third quarter of FY 2022-23.
Boston Living is associated with Asset Monk, a fintech platform, which will work as their asset managers for the highly coveted property. Prudhvi Reddy, COO, Co-founder of Asset Monk, shares, “We are pleased to come on-board as asset managers for India’s first airport co-living venture in GMR Hyderabad Aero City, conceptualized and operated by Boston Living. As a tech-enabled asset platform, we bring our rich expertise in handling varied asset portfolios and diverse investor base through an evolved technology backend.”