Indian affordable housing leader, XRBIA, aims to expand globally

After carving a niche for itself in the Indian affordable housing sector, affordable housing giant, XRBIA Developers has identified international locations where demand for affordable housing is predicted to increase in the next decade, and has prioritized six projects in the UK, Africa and Dubai as initial locations for international expansion.
XRBIA has initiated its inaugural international project, through a partnership with a social housing developer in the UK, which is expected to launch in April this year.
XRBIA’s decision to expand internationally is underpinned by the fact that affordable housing shortages are not unique to India, but present across the globe. Similar long-term market trends are driving supply shortages in many cities, namely, population growth, urbanisation and shrinking household sizes. According to the United Nations World Urbanisation prospects Report (2016), continuing urbanisation and population growth are projected to add 2.5 billion people to the world’s urban population by 2050, with 90% of the increased concentrated in Africa and Asia. At the same time, there has been a reluctance of existing real estate suppliers to cater to the budget-friendly sector of the market and provide solutions on the scale necessary to address the scale of the issue. In London, for example, the proportion of Londoners aged between 25 and 34 who own their home has fallen from 38 per cent in 2008 to just 25% in 2016, while the supply of ‘genuinely affordable homes’ slumped to a mere 780 homes in the same year.
Rahul Nahar, Chairman of XRBIA Developers Ltd, commented: “Since we are going into an international market, we will have to tie-up with local developers. XRBIA is currently leading the drive for affordable housing supply in India, with a sale and build rate of 2000 houses a month. Having fine-tuned a business model that works, XRBIA is now rising to the opportunity and international partnerships are the logical next step to expand reach. Such partnerships will combine the efficiencies of XRBIA’s large-scale operations with the local expertise of developers.”
“The scale of the challenge we face is greater than the capabilities of any one enterprise, and industry leaders, local experts and public bodies must work together if a solution to world’s housing shortage is to be realized,” he said.