Amro Partners has achieved several project milestones this summer as it continues the expansion of its Iberian purpose-built student accommodation (PBSA) portfolio, which was announced earlier this year.
The portfolio will be the best-rated set of assets from an ESG/sustainability perspective within the European living sector. Amro has secured BREEAM Outstanding, Fitwell 3* and WiredScore Platinum ratings on its development projects in Seville, Valencia, Pampolona and Madrid, which are to open in 2022 and 2023, with further projects under development in Lisbon and Salamanca targeting the same credentials.
The development of Amro Seville, a 339-bed, sustainability-leading student housing project in the heart of the city’s university hub, is now complete. Leasing for the first operational year is progressing significantly ahead of target. The EPC ‘A’ rated asset will produce operational emissions of just 11.2kg CO2 / sqm per year, achieving a 75% improvement in efficiency standards compared to the current market standard, and a 12% improvement over the challenging RIBA 2025 target.
Amro Malaga, a premium student housing project in Teatinos, is a seven minute walk from the University of Malaga’s Teatinos Campus. The scheme has already achieved full occupancy for the 2022/23 academic year. Also operated by Amro Estudiantes, the development provides 231 studios and twodios alongside a swimming pool, gym, cinema room, restaurant and study rooms.
Demolition works have begun in Salamanca, home to over 30,000 students. Acquiring the PBSA project earlier this year, Amro is developing a 157-bed student scheme, which is set to be one of Spain’s first climate-negative buildings on completion. In Porto, construction of a further 151-bed PBSA project is now underway within the city’s main university hub.
With the intention of further expansion across continental Europe, Amro is currently analysing several PBSA acquisition opportunities in the Netherlands, Belgium and Germany, where a severe shortage of dedicated student housing presents strong opportunities for growth. Amro aims to double its existing European portfolio from 2,500 to 5,000 units by 2024.
“Completion of our Seville project is a major milestone in our growth strategy, with strong occupancy rates across our Iberian portfolio testament to the strong demand we’re seeing for high-quality, professionally managed student housing. Amro’s Net Zero Carbon 2025 commitment sits at the heart of our expansion plans, and we are firmly committed to future-proofing our portfolio by achieving BREEAM Outstanding ratings across the board, helping us manage our environmental impact, attract institutional investment partners and drive long-term demand for our developments.”Raj Kotecha, Co-Founder and Managing Director, Amro Partners
Amro Partners is a leading real estate company specialising in managed residential living projects. With a core focus on sustainability and design, Amro targets the purpose-built student accommodation and Build to Rent sectors in the UK and Iberia, backed by a private family office and led by a management team with a track record of projects totalling £900m GDV.
Through its Venture Investments, Amro also invests in technology start-ups that drive change within three key areas: sustainability and decarbonisation; financial inclusion and wellbeing; and user experience of the built environment.