The Universitat Politècnica de Catalunya’s campus was chosen by Xior to develop its new unit in Spain and will have «191 self-sufficient rooms and will offer all modern amenities, such as a restaurant on location, a gym, study rooms, pools and a covered terrace», it can be read in a release from the company.
Artur Lamas street will be the address for the new student residence in Lisbon which will host 254 students. The building will have 124 units and 14 parking spaces, according to the release. In Porto, the new residence will be located at António Granjo street and will have 211 units and 420 beds. The occupants of both residences will also benefit from common spaces (such as study rooms) and complementary services (gym, launderette and café).
The Portuguese projects will be conducted by group Odalys, who announced the investment last Monday. According to the group, the new residence in Lisbon should open in 2021 and the one in Porto in 2022.
The investment in the two Portuguese student residences should cost €28.2M, while in Spain «the total investment is approximately 25.5 million, and an initial gross return of approximately 7% is expected», it can be read in the same document.
With this investment, the Iberian Peninsula will become Xior’s second largest housing market. The first place belongs to Benelux, which holds Xior’s largest investment so far.
«By acquiring these three state-of-the-art student complexes, Xior is adding two new countries to its portfolio and further implements its growth strategy as a pure player in student housing into two interesting European markets. We are convinced, also in these countries, that there is a great need for quality student housing, which is exactly what Xior offers and which has allowed us to set the gold standard in the Dutch and Belgian markets. In time, we aim to develop a substantial portfolio in these two countries exceeding €250 million», said Christian Teunissen, CEO da Xior.