Curated Living Solutions (CLSPL) has acquired a 766-bed student housing facility in Durgapur, West Bengal, marking its entry into brownfield ventures in student housing. Facilitated by real estate consultancy firm JLL, the acquisition adds substantial capacity, bringing CLSPL's portfolio to around 10,000 beds. The strategic move aligns with their growth strategy, combining greenfield developments and brownfield acquisitions across India. CLSPL's partnerships with educational institutions underscore their commitment to tailored student housing solutions, addressing the country's pressing demand, estimated at around 12 million students in need of hostel facilities.
Curated Living Solutions (CLSPL), a prominent alternative housing company backed by the DivyaSree Developers Group, recently completed a significant acquisition in the student housing sector. The company acquired a 766-bed student housing facility situated within the NSHM Knowledge Campus in Durgapur, West Bengal. Covering a 1.5-acre land area, the facility boasts a substantial 1 lakh sq ft built-up structure. This strategic move marks CLSPL's entry into the brownfield venture within the student housing vertical. JLL, a real estate consultancy firm, played a pivotal role in facilitating this transaction. Dileep Singh Mehta, Chairman Trustee of NSHM Academy, expressed confidence in partnering with CLSPL for managing hostel accommodation, citing the company's expertise and focus on this aspect. Mehta emphasized that this collaboration enables NSHM to concentrate on core academic activities, ensuring a comprehensive and holistic student experience. Jai Kishan Challa, the Founder & CEO of CLSPL, highlighted the significance of this acquisition in expanding the company's portfolio. The addition of 766 beds brings CLSPL's total capacity to around 10,000 beds, a substantial milestone in their growth strategy. Challa outlined the company's approach, incorporating both greenfield developments and brownfield acquisitions, both on and off-campus, to establish a presence in all major quarters of India. CLSPL has a track record of successful collaborations with educational institutions, including Manipal Global Education Services, Vignyana Jyothi Institute of Technology in Hyderabad, AISSMS & DY Patil in Pune, and MEDPG in Chennai, where they effectively manage student accommodation. This network of partnerships underscores CLSPL's commitment to providing tailored housing solutions for students across diverse educational landscapes Surekha Bihani, Senior Managing Director (East & Emerging Markets - India) at JLL, emphasized the pressing demand for student hostel facilities in the country. Bihani pointed out that there are approximately 12 million students in need of hostel facilities, with the supply-demand gap exceeding 6 million beds. This gap indicates great market potential and suggests a continuous increase in demand for student housing solutions. The acquisition in Durgapur aligns with CLSPL's vision to address this burgeoning demand. By diversifying their portfolio and strategically expanding into different regions, CLSPL aims to position itself as a key player in the alternative housing sector. The company's focus on both greenfield developments and brownfield acquisitions demonstrates a versatile approach, allowing them to adapt to varying market conditions and capitalize on emerging opportunities.
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