BENGALURU:
Shearwater Ventures, a National Capital Region-based investment advisory and asset management firm, is diversifying into shared living space segment under the brand name
MiNest.
The company, promoted by real estate industry veteran
Rajeev Bairathi, intends to invest $80-100 million (nearly Rs 700 crore) over the next three years to offer 10,000 beds targeting young professionals and students in India. In the first phase, the firm will launch co-living and student housing projects across NCR and later expand to Bengaluru, Hyderabad and Pune. “Over the next three years, MiNest will create 5,000 beds for aspirational young professionals for shared community living in key metro cities in India and another 5,000 beds for student living in the key higher educational hubs of the country,” said Rajeev Bairathi, MD, Shearwater Ventures.
MiNest will follow a hybrid model comprising wholly-owned and leased-out facilities. Each co-living facility for professionals will comprise 100-150 beds while student living facilities will have 400-500 beds each.