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Students’ residences by BigCity Asprela will enhance student housing in Porto

Students’ residences by BigCity Asprela will enhance student housing in Porto
01 Jul 2021

In July 2022, the number of available student residence units will reaffirm the city as a housing hub. The BigCity Asprela, a 30 million euros investment by BigCity and Reditum Capital, will bring 241 beds to the city, in an area of 10.850 square metres.

This is the first project in national territory by the two investment and property manager companies, whose goal is to meet the need regarding the increase in the number of international students that, every year, choose the city of Porto to pursue their academic degrees.

"Housing for students in Portugal features as a way in the national market, by investors, as there is a high demand”, enhances Mark Stephen, founder of Reditum Capital, as quoted by the Property Funds World site, furthering that "there is a substantial appetite for institutional investment for this type of high-quality assets”.

As such, the academic year 2022/23 will rely on over two hundred beds, in a 12 storey building that will be built next to the Asprela campus. The project includes the provision of 209 studios, 22 single beds and ten "premium” rooms with private bathrooms, kitchenette, closets, individual air conditioning and private balcony. The facilities also feature reception desk services and concierge, besides common spaces as television and game areas, meal spaces, terraces, gymnasium and study rooms.

The Director-General of BigCity, Charlie Alcock, ensures that this is the type of project – "well located, interesting, with sustainable buildings, and built for students and the co-living sector – which the company wishes to offer its investors.

The BigCity Asprela architecture project is authored by the OODA studio, the partner of the Japanese architect Kengo Kuma, who has designed the rehabilitation work of the ‘Matadouro Municipal’.

In March this year, the University Centre of Asprela already registered investment, namely by Valeo, which is building over 1.200 student residential units. 400 of those units are already available.

Moreover, that area will see the first major co-living project develop, in 2022, both for students and for young workers.