In total, the company expects to invest 250 million in this territory, advances PropertyEU this Thursday.
It was in March that the company, specialised in this alternative real estate segment, announced its entry in the Iberian market, reporting the development of 3 new units: two in Portugal and one in Spain, in an investment estimated at 53.7 million euro.
Lisbon and Porto were the cities elected by Belgian Xior to develop its first two projects in Portuguese territory. The Lisbon student residence, located at Rua Artur Lamas, will have 124 bedrooms and should open its doors to the public in 2021. The new unit in Porto should include 211 rooms and will only open in 2022. The development of these units alone represents a 28.2 million euro investment, as revealed at the time by the company in a release.
In Spain, Xior announced the construction of a student residence at the Universitat Politècnica de Catalunya’s (UPC) campus, which will feature 191 rooms. «Total investment is approximately €25.5 million, and we expect an initial gross return of approximately 7%», it can be read in the same document.
The latest real estate acquisition by Xior in Spain was closed in September and represented an 85.4 million euro investment. This operation concerned a student residence located at the Universidade Europeia de Madrid (European University of Madrid), with 528 beds, which should be expanded so as to host 200 more beds.
