Starting in 2021 – the date expected for the construction works to finish –, students will benefit from an increase in accommodation offer, since these residences will offer 750 new beds, according to Eje Prime. The cities Corestate chose to invest in for this project were not disclosed.
Corestate’s main goal is to become one the three top players operating in the student residences’ market and the company should, according to the same source, invest more than 20 million euro in Spain until the end of the year.
Another goal for the company is to enter the Portuguese market. With that in mind, the company is already analysing investment options in Lisbon.
Joyn starts first project
At the same time, Corestate has also been working in order for its brand Joyn, specialised in business apartments, to start its activity soon.
At the moment, three projects of this type are already being conceived in Spain: two in Madrid and one in Barcelona. The first – which includes 200 new beds – will be developed in the Spanish capital and will cost around 25 million euro.
According to the same newspaper, Corestate also intends to implement this concept in Portugal.