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Sameera Group lines up Rs 500 cr for senior living projects

Monday, 27 May 2024
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Real estate developer Sameera Group has lined up an investment of Rs 500 crore over the next five years to set up 1,000 senior living homes across South India. For developing these projects, the Group has signed a memorandum of understanding (MoU) with Vedaanta Senior Living aimed at creating high-quality senior living communities.

The partnership brings together Sameera Group's experience in land development, and Vedaanta's deep understanding of the senior care industry.The MoU signed between the two entities envisages real estate projects in Chennai, Bengaluru and Vellore, while the first project is expected to come up in Kancheepuram on 100 acres of land.  

The demand for senior living solutions is expected to grow exponentially in the coming years and the joint venture (JV) between Sameera and Vedaanta is well-positioned to address the growing demand with affordable senior living solutions in the southern region. The Group has completed more than 45 real estate projects in Tamil Nadu, while serving 1,00,000 customers. 

 

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