Softbank Group eyes Punjab’s realty sector

Softbank Group eyes Punjab’s realty sector

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Japan’s leading conglomerate, the Softbank Group, has evinced interest in Punjab’s real estate sector, with focus on student housing through their flagship OYO startup. Punjab has a vibrant real estate sector, with areas around Chandigarh seeing excellent growth. Punjab has witnessed over Rs. 2,000cr e-auctions over the last two years. Apart from Softbank Group, reputed international players are looking at affordable housing, student and senior citizen housing facility as a potential investment sector.

A high-level delegation of the Group, led by its MD Hiroki Kimoto, called on the Chief Minister of Punjab, Captain Amarinder, yesterday, who extended his government’s full support in the realization of Softbank’s investment plans in the state. The CM assured the delegation of seamless and smooth investment in the state through its single-window clearance platform, Invest Punjab, in the fast-track mode. The new Industrial Policy, coupled with lucrative incentives and facilities, was facilitating investors in a big way, with over Rs. 50,000 crore investment already realized on the ground during past over two years.

Softbank is one of the biggest investors in the Indian startup ecosystem, with approximately 20% of their investments in India-based businesses. Currently, the Group is investing from their technology focused $100 billion Vision Fund, with FinTech startups a key focus area. Last month, the Group had announced its second technology focused fund – Vision Fund II, with a committed capital of $108 billion which will focus on AI-based technology and Real Estate.

Incidentally, Lovely Professional University is in advanced stage of talks with Softbank for a potential collaboration for the construction of student hostels, as there was a huge demand for hostel facility for the domestic as well as international students.