Amro Partners and joint venture partner Falco Capital acquire a new purpose-built student accommodation (PBSA) scheme in Alicante, Spain – continuing its strong growth in Iberia. Named Amro Estudiantes Alicante, the c. €30m GDV project is expected to complete in early Q3 2025.
The PBSA scheme will be operated by Amro Estudiantes. It will deliver c. 280 student beds – a mix of ensuites, twodios, doubles and studios. Amenities include dedicated study spaces, canteen, terraces, a swimming pool and gym.
Located in in San Vicente del Raspeig, the development is a three-minute walk from Universidad de Alicante’s main campus. Residents also benefit from being well connected to Alicante city centre, which can be reached in under 20 minutes by tramway and bus.
“We believe that even in the current challenging market conditions, the supply/demand mismatch in PBSA across many European countries provides a compelling investment opportunity. We’re pleased to establish a new presence in Alicante in a prime spot close to the main university hub, where we know there’s strong and growing need for high quality dedicated student housing.”Raj Kotecha, Co-Founder, Amro Partners
In line with Amro’s commitment to its NZC2025 pathway, the development will target the highest possible ESG ratings – including BREEAM ‘Outstanding’, Fitwel 3* and WiredScore ‘Platinum’ – making it one of Spain’s most sustainable buildings upon completion in early Q3 2025.
“We are delighted to complete our latest acquisition with Amro, making this the eighth joint venture we have undertaken together. In our view, Amro’s commitment to excellence in ESG, technology and design, sets a benchmark in the European PBSA sector.”Richard Anderson, Joint MD, Falco Capital
Currently, Alicante is suffering from a chronic shortage of high-quality student accommodation with modern facilities. Home to over 27,000 students, c. 7,500 need accommodation, but there is an estimated 1,250 dedicated student beds – comprising mainly unsophisticated private operators. The current ratio of students to dedicated beds stands at around 6:1, with student numbers continuing to rise year on year.