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Corestate trebles its beds in Spain by investing €600M
20 January 2020 | Ana Tavares

Corestate is preparing to more than treble its number of beds in Spain until 2022, through a 600 million euro investment which will allow it to reach 5.000 beds.

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The information was advanced by Corestae’s director in Spain, Christopher Hütwohl, to EjePrime, according to whom this investment should be around 200 million euro per year, corresponding to 4 both new construction and rehabilitation projects (one per year).

According to Hütwohl, growth will be limited by the lack of offer in terms of terrains and assets on the market, but guarantees that «we will not buy at any price» and that the company does not want to «grow just for the sake of growing», but to offer an alternative to a Spain that «has many universities and little offer in terms of beds», such as is the case of Valladolid and Zaragoza. But Portugal too «has a great capacity to grow», he advanced without disclosing any more details about Portugal.

On the company’s plans are a Youniq student residence in Seville, which should open its doors during this year’s first semester, besides another project in Valencia and one other in Barcelona, this one with 257 apartments and 265 beds in district 22@, which should open in April 2022.