The British company specialised in student residences, Amro Partners, will build a student residence in Getafe, Madrid. For the moment, the company has bought a plot of land near the Carlos III University for 32 million euros, on which it plans to build a 216-bed facility.
In addition to the development in Spain, it will also build another residence in Paranhos, Porto. In this case, it invested 17 million euros in the land to develop a 151-room facility.
Amro’s portfolio in Spain consists of three assets already in operation and three projects in progress. In total, it earmarked close to €200 million for them. In 2018, the company announced its intention to invest €300 million in Spain and Portugal. The final plan is to add a portfolio of 5,000 beds by 2025.