Sensation Group forms SPV with Woke Life

Hyderabad-based Sensation Group along with Gurugram-based Woke Life Co-Living Spaces has formed Sensation Woke Hospitality to harness the potential of the rental segment.

Sensation Woke Hospitality has developed an integrated approach towards the entire long and short-term rental market with a bouquet of offerings that bring together co-living spaces, serviced hostels, serviced apartments, affordable rental housing, and purpose built student accommodation. They will create large scale developments that will be home to both a transient and permanent population and will be built around a strong core of the community.

Sensation Group will be acquiring the land and developing it as per the layouts, designs, and configurations provided by the Woke Life brand, which will, in turn, be taking the project to the market, leasing and operating the properties on a daily basis.

Together, the organisations are looking at creating an initial outlay of $100 million-plus to help build a 30 million sq ft asset base which will be valued upwards $250 million creating a footprint across five cities – Delhi, Pune, Bengaluru,  Chennai, and Hyderabad.

Bhavishya Gupta, founder of the Sensation Group, remarked “The new world order is here and it is time we look at residential real estate differently. The industry has been facing a slump for a long time now and needs to be fundamentally overhauled; this is where co-living spaces solutions come into play. Our investors globally are very excited about this partnership as they foresee sure-shot rental income flow in this asset class when compared to other sectors”.

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Sameer Singh, CEO of Woke Life, said, “The world’s economy has taken an unprecedented hit and the youngest of the lot are the most affected. They will be working doubly hard now to be able to become prosperous.

In this new lifestyle, they do not want the hassle of looking for a house, setting it up, negotiating with land-lords, repairs and maintenance, they only want to work and we will enable them to do just that. They can leave the rest to us. We will be looking at the holistic growth of our residents on personal and professional fronts. It is about creating communities.”