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Rya expects to spend €30M in two student residences
10 May 2019 | Vanessa Sousa

In order to offer 500 new beds in student accommodation in Seville, Rya Residencias expects to invest around 30 million euro in the acquisition of two buildings in this Spanish city.

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Both assets are located next to the Reina Mercedes University campus, according to newspaper ABCdesevilla.

One of them is the Botella building, which is located at the junction between Avenida de la Palmera and Calle Páez de Rivera. This two-floor asset has a total area of 7.200 sqm and will have 217 rooms and several common areas such as swimming pools, cinemas, gym, kitchens and dining areas. 250 students will be able to enjoy this new space which will cost Rya approximately 15 million euro – already including the asset’s purchase.

The other asset is located at numbers 1 and 3 at Calle Tramontana street in the same city and should represent a 14.5 million euro investment. The company expects to open this new student residence – which will be able to host 224 students in 216 rooms – in the coming school year of 2021-22.

It is within the company’s plans to keep investing in student residences in the Spanish community of Andalusia. «We are looking for terrains in Cordoba and Malaga, where we plan to invest around 15 million euro on each project», reveals Pedro Artés, Rya’s CEO and sole owner, to the same newspaper.