UXCO Group has acquired a future ECLA residence in Archamps, greater Geneva area. A former office building will be transformed into an 800-bed co-living residence for students and young professionals with more than 3,000m2 of common space, representing a total investment of €90m, supported by Societe Generale S.A.
Located 20 minutes from Geneva’s city centre, the future ECLA residence will address the accommodation needs of more than 30,000 students and 40,000 young professionals in Geneva and the surrounding area. This project is fully aligned with UXCO Group's “Transforming for good” CSR approach, with the redevelopment of an existing building into a living space, offering easy access to the city, and its commitment to residents' everyday lives.
Maël Aoustin, UXCO Group CEO and President of the Management Board commented: “This acquisition is an important step forward in the development of UXCO Group and its ECLA premium XXL co-living brand for students and young professionals by taking our concept outside the Paris region for the first time, and we are delighted to do so in the attractive and dynamic region of Geneva. Pioneers in the premium XXL coliving market, along with student residences in France, where we operate 12,000 beds, this development participates to our ambitious strategic plan to reinforce our leadership in this market.”