Iberian PBSA portfolio hits multiple project milestones

July 16th, 2022

 

  • Seville project completed and opening in July 2022 with 1st year leasing significantly exceeding target
  • Amro Malaga achieves 100% occupancy for 2022/23 academic year
  • Demolition works commence on 157-bed project in Salamanca, due to complete in 2024
  • In an Iberian first, ESG-leading portfolio sees four projects awarded BREEAM Outstanding ratings

Amro Partners has achieved several significant project milestones this summer as we continue a major expansion of our market-leading Iberian purpose-built student accommodation (PBSA) portfolio, announced earlier this year.

 

The portfolio will be the best rated set of assets from an ESG / sustainability perspective within the Europe living sector. We have already secured BREEAM Outstanding, Fitwell 3* and WiredScore Platinum ratings on our development projects in Seville, Valencia, Pampolona and Madrid, opening in 2022 and 2023, with further projects under development in Lisbon and Salamanca targeting the same credentials.

 

Development of Amro Seville, a 339-bed sustainability-leading student housing project in the heart of the city’s university hub, is now complete and leasing for the first operational year is progressing significantly ahead of target. The EPC ‘A’ rated asset will produce operational emissions of just 11.2 kg CO2 / sqm per year, achieving a 75% improvement in efficiency standards compared to the current market standard and a 12% improvement over the challenging RIBA 2025 target.

 

Amro Malaga, a premium student housing project in Teatinos, a 7-minute walk from the University of Malaga’s Teatinos Campus, has already achieved full occupancy for the 2022/23 academic year. Operated by Amro Estudiantes, the development provides 231 studios and twodios alongside a swimming pool, gym, cinema room, restaurant and study rooms.

 

Meanwhile, demolition works have begun in Salamanca, home to over 30,000 students, where Amro is developing a 157-bed student housing scheme which is set to be one of Spain’s first climate negative buildings on completion – and in Porto, where construction of a further 151-bed PBSA project is now underway within the city’s main university hub.

 

Setting our sights on further expansion across continental Europe, we are currently analysing several PBSA acquisition opportunities in the Netherlands, Belgium and Germany where a severe shortage of dedicated student housing presents strong opportunities for growth, aiming to double our existing European portfolio from 2,500 units to 5,000 by 2024.

 

Co-Founder and Managing Director of Amro Partners, Raj Kotecha, said: “Completion of our Seville project is a major milestone in our growth strategy, with strong occupancy rates across our Iberian portfolio testament to the strong demand we’re seeing for high-quality, professionally managed student housing. Amro’s Net Zero Carbon 2025 commitment sits at the heart of our expansion plans and we are firmly committed to future-proofing our portfolio by achieving BREEAM Outstanding ratings across the board, helping us manage our environmental impact, attract institutional investment partners and drive long-term demand for our developments.”