BESIX RED Portugal and Promiris have reached an agreement to promote a portfolio of student accommodation in the Iberian Peninsula. The plan envisages the development of around 2,000 rooms under the Purpose-Built Student Accommodation (PBSA) model, in response to the imbalance between supply and demand in this segment.
Both companies have already secured land in areas close to university campuses, public transport infrastructures and urban services, both in Spain and Portugal. The first residence will start construction in 2026, and deliveries will be made progressively until the end of 2028.
According to the developers, all the projects aim to obtain at least "Very Good" BREEAM environmental certification and will be developed according to key performance indicators, in a context of high demand and strong investor interest.
Promiris has developed more than ten similar projects in the Benelux and Portugal. BESIX RED is involved in the design and technical and financial structuring of the assets, relying on its local presence in the Iberian market.
Gabriel Uzgen, CEO of BESIX RED, points out that the company has decided to promote the development of projects in the PBSA segment as part of its geographical and product diversification strategy. He points out that this type of asset has the backing of public administrations, long-term agreements with operators and universities, and the interest of institutional investors.
While Christian Terlinden, managing partner of Promiris, recalls that the company set up in Portugal in 2018, where it identified an insufficient supply of student accommodation. Subsequently, Promiris started its activity in Spain with a first project in Zaragoza and, with the aim of accelerating the development of new assets, proposed the collaboration with BESIX RED.
Both companies have confirmed that they are also evaluating similar opportunities outside the Iberian Peninsula, specifically in university cities such as Mons and Ghent in Belgium.