Japan’s Softbank Plans To Invest In Punjab’s Real Estate Sector
Japan's Softbank Group evinced interest to invest in Punjab's real estate sector, with focus on student housing through Oyo startup.
Indian hotel start-up Oyo is backed by the SoftBank Group.
A high-level delegation of the group, led by its MD Hiroki Kimoto, called on Punjab Chief Minister Amarinder Singh here, who extended his government's full support in the realisation of Softbank's investment plans in the state.
Amarinder 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 realised on the ground during the past two years, the chief minister told the delegation members, according to an official statement here.
Earlier, briefing the delegation on the various investible projects, Additional Chief Secretary, Investment Promotion and Industries and Commerce Vini Mahajan said that Punjab had a vibrant real estate sector, with areas around Chandigarh seeing excellent growth.
Reputed international players are looking at affordable housing, student and senior citizen housing facility as a potential investment sector, she added.
Taking part in the deliberations, Lovely Professional University Vice Chancellor Ashok Mittal said they were in advanced 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.
Softbank is one of the biggest investors in the Indian startup ecosystem, with approximately 20 percent of its investments in India-based businesses, the statement said.