Amro Partners’ Iberian student housing portfolio has achieved multiple milestones this autumn as it continues to expand its presence in the region and doubles down on its ambition to become the ESG-leading portfolio of living assets in Europe.
Amro Salamanca opened in September, providing 170 new student beds with shared facilities within walking distance of both Universidad de Salamanca and Universidad Pontificia de Salamanca, in one of Spain’s most historic university cities.
The project, which is designed to achieve BREEAM Outstanding, Fitwel 3* and WiredScore Platinum ratings, is already well occupied and on course to be fully stabilised in September 2025.
Construction in Alicante is set to complete in May 2025, where Amro is delivering one of the most sustainable new buildings in Spain. Energy use intensity will be reduced to just 100kW/m2.yr and total heating demand to <15 kW/m2.yr, in line with the 1.5-degree Celsius carbon emissions reduction pathway.
Work is also progressing well on Amro Valencia Puerto, Amro’s second student housing project in the city, which is scheduled to open in early 2026.
Investor appetite for ESG-leading PBSA assets continues to grow, with Amro’s projects in, Seville, Pamplona, Valencia, Madrid and Porto all having commenced the 2024/25 academic year at full occupancy – with the latter three achieving double digit annual rental growth. Earlier this month, Amro Porto won ‘Best Sustainable Student Property’ at The Class Foundation’s Best in Class Awards 2024.
In October, Amro entered a joint venture with Invesco Real Estate to pursue opportunities in the Iberian market, beginning with two new acquisitions undertaken in Spain which together will deliver an additional 566 beds.
“2024 has been a significant year of progress for our Iberian portfolio, with multiple projects now completed and at, or close to, full occupation. This is testament to the strong demand we continue to see from both investors and tenants for high-quality, ESG-leading student housing.
“Economic indicators look positive for next year and the fundamental supply/demand imbalance underpinning the European student housing market means it is set to continue outperforming other asset classes.
“As we look ahead to 2025, we are well placed to strengthen our position as a specialist living sector partner of choice for institutional capital across the European geographies we are active in.”
Raj Kotecha, Chairman and CEO, Amro Partners
