Spain: Investment company Amro Partners has announced that its PBSA portfolio in the Iberian market has hit a number of key project milestones so far this year as it seeks to grow its presence in the region, as well as improve on its ESG pledges.
Launching in 2024, bookings have now opened at the 151-bed PBSA scheme Amro Porto in Portugal, which will operate under the Amro Estudiantes brand. The project will feature study rooms, terraces, a gym, padel court and outdoor spaces within close proximity to the University of Porto and Portucalense University.
A further PBSA project is scheduled to start construction soon in Alicante, which Amro is looking to make its greenest venture to date, and build on existing BREEAM [Building Research Establishment Environmental Assessment Method] Outstanding-rated assets in cities such as Madrid, Seville, Valencia and Pamplona.
Shortly, construction will also start at Amro’s greenest PBSA project based in Alicante; a further significant step up from its existing BREEAM Outstanding rated assets in Seville, Valencia, Madrid and Pamplona. Amro Alicante will become the first student housing development in Spain to adopt a Passivhaus design discipline and is targeting steep reductions in energy use intensity and total heating demand, while investing in fabric efficiency and solar control to lower its carbon emissions significantly.
In addition, Amro will invest in commercially viable energy storage capacity over the next year, harnessing in-house, machine learning-based data insights.
In terms of other projects, Amro is in the process of developing a climate negative, 157-bed student housing scheme in Salamanca [scheduled for completion in September 2024]. The company is also reporting full occupancy at sites in Valencia and Madrid after one year in operation, and Seville is expected to follow that trend next month.
Raj Kotecha, co-founder and CEO of Amro Partners, said: “Amid challenging market conditions, the Iberian student housing sector continues to prove its remarkable resilience. Occupancy rates across our portfolio are testament to strong demand for high quality, professionally managed student housing and we continue to identify further opportunities for growth, including in new markets such as Germany and the Netherlands where we expect to announce new site acquisitions in the coming months.
“By future-proofing our portfolio through a combination of fabric efficiency and operational emissions management, using our own in-house data insights, we will drive long-term demand for our proposition from both tenants and investors,” he added.
Ami Kotecha, co-founder and group president at Amro Partners, was featured this week in IHM’s 2023 ones to watch in travel, hospitality and real estate piece as a visionary leader with a big 12 months ahead of her.
