Planning consent for our second Valencia project

April 16th, 2024

  • €29M GDV project will deliver 221 new dedicated student beds close to five universities
  • Facilities include rooftop terrace, canteen, gym, study rooms and parking spaces
  • The project is targeting BREEAM “Outstanding”, WiredScore Platinum and Fitwel 3*
  • Valencian student numbers continue to grow annually against acute student bed shortage
  • The project represents and Amro’s second development in the city

Along with our partners IP Investment Management and Heed Capital, we are delighted to announce we have secured planning approval for Amro Valencia Puerto, our second PBSA asset in Valencia.

Planning consent was secured within a 12-month timeframe, a local record, with construction now commencing on site.

The €29M GDV project will deliver 221 new student beds on a c.2,000 sqm site just outside the newly regenerated Avenida del Puerto, a major avenue within walking distance of European University of Valencia, University of Valencia, University Polytechnic of Valencia, University Catholic of Valencia and International University of Valencia.

In line with our Net Zero 2025 strategy, Amro Valencia Puerto will meet the same market leading ESG standards set by all our Spanish projects including BREEAM ‘Outstanding’, WiredScore Platinum and Fitwel 3*.

In addition to studios, twodios and cluster apartments, extensive shared facilities are designed with a deep focus on meeting residents’ health and wellbeing needs, including a rooftop terrace, gym, communal canteen, dedicated study rooms, green outdoor spaces and private parking. The project will be managed and operated by Amro Estudiantes upon completion in early 2026.

The Spanish student housing market remains structurally undersupplied, with an existing shortfall compounded by continuous annual growth in the student population. Valencia is among the cities with the most severe shortages of professionally managed, dedicated student accommodation, with approximately five students competing for every bed. Being the third most popular university destination in Spain, Valencia enjoys broad cultural appeal with a rich history, 135km of coastline and excellent transport links.

It is the first city where we have brought forward a second student housing project, following the opening of Amro Valencia Palleter last year which is fully occupied for 2023/24 and already fully pre-leased for 2024/25.

Chairman and CEO of Amro Partners, Raj Kotecha, said:

“Demand for dedicated student housing in Valencia is exceptionally strong and we are delighted to achieve planning consent for our second project in this vibrant student city. We look forward to delivering an ESG-leading asset in a strategic location close to the main university campuses, the port and city centre.”

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