Page 56 - Construction_Opportunities_Sep_2026

TICKER TAPE
CONSTRUCTION AURUS Luxury Managed Residences, a premium co-living brand
AURUS - LUXURY MANAGED RESIDENCES PARTNERS WITH
SIBAN FOR ONE OF INDIA’S LARGEST MANAGED LIVING
PROJECTS

founded by Bharat Agarwal, has signed a Memorandum of
Understanding (MoU) with United Group to establish and operate
a large-scale managed residential living development in GIFT City,
Gandhinagar, in what is set to be one of India’s largest leasing
partnerships in the managed residential space.
The partnership will see AURUS bring its expertise in co- living,
hospitality, community management and operations to
the development, while Siban Developers will serve as the
development and property partner. Together, the collaboration
aims to create a professionally managed living ecosystem suited
to GIFT City’s evolving educational, corporate and professional
landscape.
The commercial and lease structure encompasses a total
leasable area of approximately 5,00,000 Plus sq. ft. spread across
480 units, under a proposed 15-year lease term based on the
current commercial schedule, the potential rental payable over
the 15-year period is approximately `550 crore, subject to the final
executed agreements
Under the partnership, United Group will serve as the development
and property partner, while AURUS will operate and manage the
accommodation ecosystem. Its responsibilities will include resident
experience, hospitality, community management, programming
and day-to-day property operations.
The project is expected to serve a mix of students, young
professionals and working executives, in line with GIFT City’s
evolving educational, corporate and professional ecosystem.
The current project plan targets operations to commence in 2030.
On the partnership, Bharat Agarwal, Founder, AURUS Luxury
Managed Residences, said, “Our journey so far has demonstrated
that there is a significant opportunity to build a more organised expand, the demand for organised, professionally managed and
and professionally operated managed residential ecosystem high-quality living infrastructure is expected to grow alongside its
in India. As we enter our next phase of growth, GIFT City stood student and young professional population.
out because of the scale of development underway and the Commenting on the partnership, Sanket Patel, Partner, United
opportunity to become part of a new ecosystem from an early Yogi LLP, said, “The development of a successful urban ecosystem
stage. Partnering with Siban Developers gives us the opportunity to requires different forms of infrastructure to evolve alongside one
enter the market with the right development partner and establish another. While GIFT City has established itself as an important
a strong foundation for our expansion beyond Mumbai.” business destination, its next phase of growth will also depend
Located in Gandhinagar, GIFT City has emerged as India’s first on how effectively it supports the people who will live, study and
International Financial Services Centre and a growing hub for work here. We see this partnership with AURUS as an opportunity to
global financial and technology businesses. The city currently contribute to that evolution by introducing an organised managed-
has over 1,000 operational entities, has generated more than living solution that responds to an important requirement within the
30,000 jobs, and has over 29 million sq. ft. of space allotted for city’s broader development landscape.”
development. Alongside its expanding corporate ecosystem, GIFT The partnership places AURUS within one of India’s most closely
City is also emerging as an international education destination, watched urban development projects and represents a significant
with global universities establishing campuses within the city. addition to its growth strategy. The company’s long-term
Deakin University and the University of Wollongong from Australia ambition is to build the next 100 most beautiful and functional
are already operational, offering programmes across areas managed residential assets across India over the next five years,
including business, financial technology, computing and data contributing to the transition of student and working professional
analytics, while Coventry University and Queen’s University Belfast accommodation from fragmented hostel and PG formats towards
from the UK have also been approved to establish campuses a more globally benchmarked living category.
and financial institutions like Bank of America, Barclays, Deutsche The GIFT City entry marks the first step in that wider expansion
Bank to name a few. journey, as AURUS looks to take its managed residential model to
As GIFT City’s business and academic ecosystems continue to new markets across the country.

56 CONSTRUCTION OPPORTUNITIES|SEPTEMBER 2026