by THO
Real estate major BCD Group is preparing to lease out 900 apartments to global tech giant Apple’s manufacturing partner Foxconn for a three-year period in a township project located in Bengaluru’s Hoskote town, sources in knowledge of the matter told HT.com.
The residential units are slated to accommodate Foxconn’s female engineering, technical and assistance staff, as well as factory workers, employed at the Taiwanese manufacturing company’s iPhone factory set to come up in a location about 25 minutes away from the project site.
The iPhone assembler purchased a 300-acre land parcel in Devanahalli, near the Kempegowda International Airport, last year.
Home to manufacturing plant units of multiple corporate giants, Hoskote has emerged as an industrial and warehousing hub in recent years.
According to data sourced from proptech unicorn NoBroker, average commercial property prices have risen 7% year-on-year in the area to start at ₹15,000 per square feet currently. Meanwhile, rentals have increased by 9% annually.
The township project, earlier called Artha Emprasa, was taken over by the BCD Group in 2021 and completed at a capital investment of ₹250 crore, company Managing Director and Chairman Angad Bedi told HT.com. It has since been rebranded as BCD Emprasa.
“BCD Group has managed to transform a budget housing undertaking into India’s first blue-collar girls-only dormitory project, set to house close to 8,500 women,” Bedi added.
As per media reports, Foxconn, part of the Taiwanese Hon Hai Technology Group, currently produces iPhones for Apple at its factory in Sriperumbudur near Chennai. The company further plans to diversify its operations and move up the value chain, venturing beyond smartphone assembly to areas such as information and communication technology (ICT), electric vehicles and batteries.
Also Read: More buttons, strong AI: Apple iPhone16 series and the cyclical charm of tech
According to reports, the manufacturing major’s business in India has grown to over $10 billion as of 2024, its Chairman Young Liu said earlier this year. The company has invested $1.4 billion in India till date.
Queries mailed to Foxconn by HT.com did not elicit a response till press time. The story will be updated when a response is received.
About the project
Spread across 8 acres, BCD Emprasa includes 9 towers with 9 floors each, housing 700-800 square feet apartments of 1RK and 2RK configurations. According to Bedi, each of these units can accommodate 4-6 individuals.
“It was part of phase 1 of a larger 80-acre township project, which is poised to become the first fully integrated township of Hoskote. The acquisition of land is largely completed by the Group,” Bedi said.
Phase 2 of the project will see plotted and villa developments in the name of Ekam Homes, spread across 15 acres. It is set to be launched towards the end of the year, Bedi added.
Headquartered in Bengaluru, BCD Group is present across seven cities in India, and involved in development of diverse projects, including group housing, commercial complexes, shopping malls and hotels, among others.
Currently being run by the fourth generation, the family-run entity has a legacy of 70 years. Internationally, the real estate firm has delivered projects in Nepal, Mauritius, Iraq and Saudi Arabia.
Elaborating on the brand’s targets for financial year 2024-25, Bedi said: “We’re looking at crossing an order book of ₹2,000 crore before the end of FY25.”
The company is also set to add 4 million square feet in the ongoing fiscal to take its overall footprint to 154 million square feet. Presently, broadly 12 million square feet of construction and development is underway, Bedi said.
