Olive by Embassy launches asset-light management business
India: Olive by Embassy, the coliving and student housing brand by the Embassy Group, has launched Olive Residences, its asset-light management business.
With a twofold membership approach, customers can choose their primary residence location in Bangalore and gain access to member “partner escape locations”, as well as the Olive Club on a pay as you go system.
Olive Residences has launched its first property in Koramangala, available for immediate occupancy, and two more properties in Magrath Road and Indiranagar, Bangalore, to be ready in the next three months.
Olive Residences will take up residential buildings and hotels under a management agreement in the central locations of metro cities, across India.
The company says its serviced apartments “will go beyond just offering vibrant living spaces, by bringing together a lively community of diverse cultures, backgrounds and walks of life”.
These fully serviced, all-inclusive accommodations will feature a rooftop terrace with a lounge, bar, yoga deck, fitness and a gaming area. At the city centre escape location, the Olive club at the rooftop of WeWork Galaxy on Residency Road, Bangalore, members will have access to a roof top swimming pool, gym and other high-end amenities.
Additionally, members will receive complimentary benefits at a network of Embassy Leisure venues such as Sanchez, Sriracha, Shiros, Hard Rock Cafe as well as the Embassy International Riding school.