Co-living startup Union Living to add 1,000 beds in Mumbai in 2024; to invest Rs 10Cr on expansion

Union Living, a bootstrapped co-living startup, has announced plans to expand its presence in Mumbai by adding 1,000 beds across key locations this year. 

The startup, founded in 2020 by Rishab Soni and Parth Soni, currently operates 1050 beds in Mumbai, Pune, and Ahmedabad. The expansion will significantly increase their footprint in the Mumbai region.

Locations and investment details

As per the company's statement, The expansion includes launching 220 beds in Mahalakshmi, 180 in Juhu, 100 in Khar/Santacruz, 150 in Goregaon/Malad, 100 in Chembur, and 200 in Navi Mumbai.

Rishabh Soni, co-founder, Union Living said, “The strategy of new launches within Mumbai micro market reflects Union Living's commitment to providing quality living spaces in diverse neighborhoods, catering to the specific needs and preferences of its target tenants."

Notably, at least three properties, totalling around 500 beds, will be developed as Built-to-Suit (BTS) properties, offering customized facilities. These are expected to be operational by July. The startup plans to invest Rs 10 crore, primarily for security deposits and interior works, it said.

Target audience and pricing

Union Living caters to a diverse group, including students and working professionals aged 18 to 35. The rental accommodations are priced between Rs 20,000 and Rs 45,000 per bed, targeting the middle to upper-middle-class income range. It also offers short-term stay facilities.

"Our focus remains on creating vibrant, stylish, and comfortable living environments that resonate with the dynamic lifestyles of millennials and Gen Zm," Soni added.

What does Union Living do?

Union Living, a leader in the co-living space, aims to redefine living experiences for millennials and Gen Z.

The expansion is part of Union Living's commitment to providing quality co-living spaces to outstation millennials and Gen Z, offering a community-centric experience through a range of in-house events covering music, festivities, mental health, personal development, and more.

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