AURUS Partners with SIBAN for Major Managed Residential Development in GIFT City
Mumbai, September 4, 2026: AURUS Luxury Managed Residences has signed a Memorandum of Understanding with United Group to establish and operate a large-scale managed residential living development in GIFT City, Gandhinagar. The agreement marks one of India’s largest leasing partnerships in the managed residential sector, AURUS Luxury Managed Residences said in a press release.
Under the partnership, United Group will act as the development and property partner through Siban Developers, while AURUS will manage the accommodation ecosystem, overseeing resident experience, hospitality, community programming, and day-to-day operations. The commercial agreement covers a total leasable area exceeding 500,000 square feet across 480 units. Based on a proposed 15-year lease term, potential rental payments are estimated at approximately Rs 550 crore, subject to final agreements. Operations are targeted to commence in 2030 to serve students, young professionals, and executives.
The project aligns with the expansion of GIFT City, India’s first International Financial Services Centre, which hosts over 1,000 operational entities and campuses for international institutions such as Deakin University and the University of Wollongong.
“Our journey so far has demonstrated that there is a significant opportunity to build a more organised and professionally operated managed residential ecosystem in India. As we enter our next phase of growth, GIFT City stood out because of the scale of development underway and the opportunity to become part of a new ecosystem from an early stage. Partnering with Siban Developers gives us the opportunity to enter the market with the right development partner and establish a strong foundation for our expansion beyond Mumbai,” said Bharat Agarwal, Founder, AURUS Luxury Managed Residences.
The development forms part of AURUS’s strategy to construct 100 managed residential assets across India over the next five years, transitioning student and professional housing toward organized, globally benchmarked formats.
“The development of a successful urban ecosystem requires different forms of infrastructure to evolve alongside one another. While GIFT City has established itself as an important business destination, its next phase of growth will also depend on how effectively it supports the people who will live, study and work here. We see this partnership with AURUS as an opportunity to contribute to that evolution by introducing an organised managed-living solution that responds to an important requirement within the city’s broader development landscape,” said Sanket Patel, Partner, United Yogi LLP.
