Real estate developer Embassy Group has forayed into a new asset class, senior living, by joining hands with Columbia Pacific Communities for its first project in Bengaluru.
Columbia Pacific Communities is part of the Seattle-based Columbia Pacific Group, which has over 40 years of experience in building, managing and operating senior living communities in the USA, China, Canada, the UK, and India.
Along with Columbia Pacific Communities, Embassy will create communities that offer the highest international standards in design, facilities and services par excellence to fulfill the aspirations for a peaceful and worry-free senior living, said a press release.
The first senior living project will be launched by the two at Embassy Springs, Bengaluru’s biggest and best-planned self-sustained community in North Bengaluru, spread across 288 acres. The first phase, to be launched by the Q2 21-22, will have approximately 250 units in 1 and 2 BHK formats with unit sizes ranging from 600-1,000 sq. ft RERA carpet area, added the release.
Commenting on the new business foray, Aditya Virwani, COO, Embassy Group, said, “Our senior citizens seek a secure caring environment to live in independence without the pressures of maintaining a full-fledged home. With the current pandemic and uncertainty, we are striving all the more to make the later years for our seniors rewarding and fulfilling, by providing them an enhanced lifestyle and peace of mind for their families, which is truly priceless.”
Mohit Nirula, CEO, Columbia Pacific Communities, said, “We are entirely committed to building and nurturing communities for seniors, as we believe that community living, and social engagement is the strongest antidote to loneliness and a wonderful enabler of ‘positive ageing’. Residents can expect to find an environment that encourages them to remain physically fit, mentally alert and emotionally stimulated.”