Amro Partners has taken the next step in its expansion across Iberia with the acquisition of a new student housing project in the Portuguese capital Lisbon, which will deliver 305 beds in a BREEAM ‘Outstanding’ rated property.
Located in Caparica, directly opposite the NOVA FCT Campus and close to the Egas Moniz Higher School of Health, the €32m GDV project will comprise a mixture of room types (ensuites, doubles, studios and twodios) alongside dedicated study spaces and shared facilities including a canteen, swimming pool, gym and rooftop terrace.
The building will be situated in the heart of NOVA University Lisbon’s new Innovation District, a project aiming to create a new global city in Almada centred around sustainability, innovation and technology, with plans for its FCT campus to become a business hub with 250,000m² of new infrastructure and development creating 17,000 jobs. Lisbon is home to c.120,000 students with the ratio of students in need of accommodation to purpose-built beds currently at around 6:1.
Raj Kotecha, Co-Founder and Managing Director of Amro Partners, said: “We’re committed to delivering market-leading student accommodation in the best possible locations and Lisbon is an important city for us as we seek to grow our presence in the Iberian residential living sector. The recent launch of NOVA University Lisbon’s Innovation District is driving forward an uncompromising focus on sustainability which, alongside the shortfall of quality student housing, has created the opportunity for us to deliver another market-leading Net Zero Carbon asset.”