A Joint-Venture Opportunity for Leading Developers · 2026
India's first enterprise mobility-led corporate housing.
Your building. Our enterprise tenants. A new asset class.
POWERED BY IKAN · 30 YEARS IN GLOBAL MOBILITY
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01 — The moment
A historic wave of Global Capability Centres is moving millions of enterprise employees into a handful of Indian cities — a recurring, predictable flow of talent that needs a quality home for 30–180 days.
>60% of that demand concentrates in Bengaluru + Hyderabad alone.
Bengaluru + Hyderabad share: EY · CBRE (GCC leasing, 2021–25)
GCC employees in India (millions)
Headcount 1.9M → 3–4.5M: EY · NASSCOM (2030 headcount MED · trajectory HIGH)
29.2 msf of GCC office leasing in 2024 (+29% YoY): EY · NASSCOM · CBRE
02 — The gap
Premium hotels run ₹11–14k/night and were never built to be lived in for 90 days. Branded, accountable inventory barely exists.
Organized share of India's ~US$20B rental market
ORGANIZED 13–14% · UNORGANIZED 86% · 71% HAVE NO FORMAL CONTRACT
India residential rental market
~US$20B
| Organized / branded | 13–14% of the market |
| No formal contract | 71% of rental tenancies |
| Premium hotels | ₹11–14k/night — not built for 90-day stays |
~US$20B market · 13–14% organized · 71% no contract: Aurum PropTech · IMARC · NSSO
Premium-hotel ADR ₹11–14k/night (+~9%/yr): Horwath HTL — premium/upper-upscale band
03 — The prize
The organized, managed-living segment is set to more than double this decade. A new branded category is forming — and there is a real share of it to take.
| TAM · organized 2025 | US$3–5B |
| TAM · organized 2030 | US$7–12B @ 12–17% CAGR |
| SAM · 6 GCC cities | ~US$0.6–1.5B mobility-led, medium-term |
Addressable opportunity (US$B)
Modelled · organized + managed-living · 12–17% CAGR — TAM report (MED · SAM LOW–MED)
04 — The catch
A building alone doesn't capture the prize. Without guaranteed demand, the economics turn against the owner — slowly at first, then all at once.
Lease-up risk
Empty floors while a brand-new property finds its first tenants.
Demand is rented
Reliance on local sales and OTAs — a 15–30% CAC drag on every booking.
Wrong product
Hotels-for-90-days: priced and built for nights, not for living.
Volatile occupancy
Transient demand swings with the season — no contracted floor.
The asset is the easy half. The prize goes to whoever already owns the demand.
15–30% OTA/CAC drag: Market report [E13–E15] (MED confidence)
05 — The unlock
Powered by IKAN — three decades moving the world's enterprise workforce into India's cities. That relationship is a captive enterprise-mobility demand engine: homes pre-let to named employers before they open.
years in global mobility
enterprise clients
assignments managed
cities served
RMC partnerships and Fortune-500 relationships let us fill homes before the doors open. No global mobility company is doing this — the others are hotel brands.
06 — The white space
Hospitality brands have inventory but opportunistic demand. Aggregators have demand but no inventory. Nest.IQ fuses owned-grade keys with captive enterprise demand — the empty top-right corner of the market.
No incumbent.
07 — The whole arrival
The home sits at the centre of a wider journey IKAN already runs — so the relationship, and the revenue, extends far beyond the lease.
Immigration & visas
Relocation & logistics
The Nest.IQ home
Destination services
Concierge & renewals
A high-margin, LTV-expanding, stickier relationship than a lease alone. Cross-sell attach across the IKAN ecosystem is an input we set together.
08 — The model
You bring
| Land |
| The building |
| Construction capital |
Nest.IQ brings
| Brand & enterprise sales |
| Operations & service |
| Captive occupancy + the .IQ layer |
| The IKAN mobility wrap |
Shared
| Recurring income |
| Brand & absorption premium |
| A financeable, REIT-ready exit |
You own the asset and the upside. We own the demand that fills it.
09 — De-risked for you
The operating model uses the same family of structures behind global hotel partnerships — familiar, financeable, and proven across cycles.
Fee ranges illustrative of standard market terms — set together in the JV.
Option A · Management agreement
| Base fee | 2–4% of revenue |
| Incentive fee | 5–15% of GOP |
Option B · Revenue-share
| Structure | Revenue-share with a minimum guarantee |
| Owner protection | Contracted income floor from day one |
10 — Proven model, avoided trap
Proven — Ascott
Asset-light operating + JV + technology compounds. ~6,100 India units today, targeting 12,000 by 2028; a global serviced-living leader built on management agreements, not balance-sheet leases.
Cautionary — Sonder
Lease-heavy, transient, demand-by-OTA. Margins never covered the fixed lease stack → Chapter 11, 2025. The opposite of owned-grade + captive demand.
Nest.IQ takes the proven half — asset-light ops + JV + intelligence — and adds the one thing Ascott still buys from aggregators: captive demand it owns outright.
Ascott ~6,100 → 12,000 by 2028: CapitaLand · Competitive report §3.1. Sonder: Competitive report §8 (report records Chapter 7 liquidation, Nov 2025).
11 — The branded effect
Price / rent premium · branded vs unbranded
~33%
A branded, accountable standard commands a structural premium — and leases up faster. Up to ~75% in some Indian markets.
Savills · RPRealtyPlus, 2025
Indexed rent · unbranded = 100
Plus faster lease-up — the absorption premium
12 — Illustrative economics
A representative pilot
| Keys | 50–80 (Bengaluru) |
| Blended ADR | ~₹8,500 (market range; city-specific) |
| Stabilized occupancy | ~72% base · 78–82% upside |
| Property EBITDA | 28–40% (corporate-housing benchmark) |
| Capex / key (ex-land) | ~₹1.1–1.4 cr — developer-funded |
| Stabilization | 18–24 months (pre-let accelerates) |
Why pre-let changes the curve
Captive demand pulls occupancy forward and trims the lease-up drag — the same property, de-risked on the way to stabilization.
15–30% OTA/CAC drag avoided vs demand-by-booking models.
Corporate-housing & extended-stay benchmarks, 2025
Illustrative — built from sourced market ranges, not a forecast. Per-city ADR, occupancy, capex, the JV split and any capital are inputs we set together. No returns are asserted.
13 — The intelligence layer
.IQ is the supporting intelligence layer beneath the portfolio — it makes a building operate like a platform. The demand and the operating brand lead; the software compounds them.
Capability set — built in phases alongside the portfolio.
Demand matching
IKAN assignment pipeline routed to the right home, city, and date.
Dynamic yield
Length-of-stay & rate optimization across the portfolio.
Smart building ops
IoT, energy, housekeeping & maintenance on one operating layer.
Resident platform
App-based arrival, services, and the whole-stay experience.
14 — The roadmap
A multi-JV platform — the pilot proves the model; the network scales it city by city.
15 — Why now
01
The wave is here
GCC leasing hit 29.2 msf in 2024 (+29% YoY). The talent is landing in these cities now — not in a someday TAM.
02
The quadrant is empty
No one in India fuses owned-grade keys with captive enterprise demand. The category has no owner yet.
03
The one who could, hasn't
The incumbent who could fuse it (Ascott, via SilverDoor) hasn't. A focused JV can define the category first.
GCC leasing 29.2 msf in 2024 (+29% YoY): EY · NASSCOM · CBRE · Colliers. Ascott / SilverDoor: Competitive report §3.1 / §9.
16 — The ask
The deal, simply
| Scale | A 50–80 key pilot in a target micro-market |
| You bring | The asset — land, building & construction capital |
| We bring | Brand, operations, intelligence, and enterprise tenants secured before the doors open |
| Structure | Management agreement or revenue-share + minimum guarantee |
The path
The JV split, capex/key, ADR & occupancy targets are inputs we set together — no terms are assumed.
The art of arriving.
NEST.IQ · POWERED BY IKAN