BCD Group, a prominent player in the Indian real estate sector, is set to lease 900 apartments to Foxconn, a major manufacturing partner for Apple, as part of a significant township project in Bengaluru’s Hoskote area. This strategic move will see the residential units dedicated to housing Foxconn’s female engineering, technical, and support staff, as well as factory workers involved in the production of iPhones.
The lease agreement spans three years and underscores the growing demand for quality housing solutions in proximity to industrial hubs. Foxconn, which acquired a 300-acre site in Devanahalli—near Kempegowda International Airport—last year, is establishing a new iPhone manufacturing facility. This new project will be roughly 25 minutes from the BCD Group’s township development. Hoskote, a region that has evolved into an industrial and warehousing centre in recent years, has seen a notable increase in real estate values. Data from proptech leader NoBroker indicates a 7% annual rise in commercial property prices, now starting at ₹15,000 per square foot, with rental rates climbing 9% year-on-year.
The township, initially named Artha Emprasa, was acquired by BCD Group in 2021 and rebranded as BCD Emprasa following a substantial capital investment of ₹250 crore. This development represents a shift from a typical budget housing project to what is being described as India’s first blue-collar girls-only dormitory initiative, which aims to accommodate nearly 8,500 women. BCD Group’s Managing Director and Chairman emphasised the transformative nature of this project, highlighting its significance in meeting the housing needs of female workers. This initiative aligns with the broader trend of industrial expansion in the region, facilitated by global tech giants like Foxconn, which are diversifying their operations beyond smartphone assembly into sectors such as ICT, electric vehicles, and battery technology.
