{"id":32183,"date":"2016-10-29T21:09:41","date_gmt":"2016-10-29T14:09:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=32183"},"modified":"2016-10-29T19:27:41","modified_gmt":"2016-10-29T12:27:41","slug":"gsa-targets-spain-for-expansion-in-student-property","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gsa-targets-spain-for-expansion-in-student-property\/","title":{"rendered":"GSA targets Spain for expansion in student property"},"content":{"rendered":"


\nGSA Group, the developer and investor in student property based in Dubai, is targeting Spain as its next major international growth market.The company, which alongside Singaporean sovereign wealth fund GIC bought portfolios in the UK and Germany this month containing 4,600 student beds and 5,000 more under development, is looking to acquire more properties across Europe and to push into the US, as well as broaden its footprint in the UAE.Founder and chairman Nicholas Porter said that “Spain is a good example” of a market where he sees potential for opening new purpose-built student accommodation (PBSA).”We like that market and the markets within. And ultimately our fight over the next two or three years will be to the US as well – bringing new product and new thinking to the US market. It’s not about being all over the US. It’s about being in major centres that continue to grow and attract both domestic and international students.”Mr Porter was the founder of UK-based Unite Group, which was a big player in the development of the PBSA sector in the UK in the 1990s and 2000s. Unite now has about 50,000 student beds in its portfolio, and 5,000 more under development. He left the firm in 2009 – one year after setting up GSA Group in a bid to develop the PBSA sector globally. The company has interests in seven countries, but envisages scope for much greater growth and has a target to have 250,000 student beds under management by 2025.Much of this will be in markets such as Germany, where there are few existing PBSA buildings.”Germany is where the UK market was about 20 years ago in terms of accommodation,” said Mr Porter. “It has a great higher education system and a huge amount of credibility, but accommodation-wise it is very much first generation.”However, even in more developed markets such as the UK, Mr Porter sees opportunities both for new schemes and for replacing some of the first wave of PBSA stock that was built in the 1990s. A World Student Housing report published by property consultancy Savills this month stated that 2015 was a record year for student property, with $15 billion invested in the sector. There was $8bn worth of investment in the first eight months of 2016. Despite this, it argued that supply remains low, with provision rates (beds per enrolled students) ranging from 24 per cent in the UK to just 6 per cent in Spain.James Hanmer, the head of UK student accommodation at Savills, said that one reason that rates in Spain were lower than in other European countries is that the number of international students studying there is lower than in other major European countries at about 75,000, compared with between 300,000 or 400,000 in the UK, France or Germany.Another is that “a lot of the students are living at home and going to the local university”.However, he argues that there are substantial opportunities for the sector’s development across continental Europe.”In Europe you are still getting that first-over advantage … there’s not much competition,” said Mr Hammer. “But you are higher up the risk curve because it is not a product that is wholly proven in terms of demand.”The Savills report also highlights the UAE as the market with the most branch campuses of overseas universities – 42, compared with 37 in China and 17 in Malaysia.Mr Porter said that the company is still searching for a site for its second Dubai campus, and believes the market could accommodate many more.”We’re looking at 3,000-4,000 beds in Dubai, and we certainly want to be in Abu Dhabi as well. And from the UAE we’ll look at select markets as they open up around the GCC.”mfahy@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…GSA targets Spain for expansion in student property<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

GSA Group, the developer and investor in student property based in Dubai, is targeting Spain...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-32183","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8n5","jetpack-related-posts":[{"id":119915,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/resilience-of-us-student-housing-market-sees-gsa-acquiring-assets-spread-over-19-cities-in-18-states\/","url_meta":{"origin":32183,"position":0},"title":"Resilience of US student housing market sees GSA acquiring assets spread over 19 cities in 18 states","date":"February 2, 2021","format":false,"excerpt":"\r Student accommodation may have been badly affected by the coronavirus pandemic as universities switched to classes online due to coronavirus restrictions, but that has not stopped deal making in the segment, with one investor acquiring major assets in the US.Last month, Global Student Accommodation Group (GSA), which specialises in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28535,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gsa-joins-singaporean-wealth-fund-for-student-rooms-deal-in-uk-and-germany\/","url_meta":{"origin":32183,"position":1},"title":"GSA joins Singaporean wealth fund for student rooms deal in UK and Germany","date":"October 4, 2016","format":false,"excerpt":"\r GSA Group, the Dubai student accommodation specialist based in Dubai, has acquired a portfolio of more 4,600 student bedrooms in the UK and Germany, plus a development pipeline of a further 5,000 fut\u00adure bedrooms in two investment deals alongside Singapore sovereign wealth fund GIC. The price paid was not\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2859,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gsa-group-opens-424-bed-student-housing-in-dubai\/","url_meta":{"origin":32183,"position":2},"title":"GSA Group opens 424-bed student housing in Dubai","date":"January 28, 2016","format":false,"excerpt":"\r \r GSA Group is to open its first purpose-built student accommodation building in Dubai next month. The Dh110 million property, branded as Uninest, contains 424 beds as well as common areas including a pool, gym, terrace and cinema area. It has been built near Skycourt Towers in Dubailand, close\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56386,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/enbd-reit-buys-dubais-first-purpose-built-student-block\/","url_meta":{"origin":32183,"position":3},"title":"ENBD Reit buys Dubai's first purpose-built student block","date":"May 31, 2017","format":false,"excerpt":"\r A real estate investment trust (Reit) has bought the UAE's first purpose-built student accommodation (PBSA) block in a deal worth Dh120 million. ENBD Reit, which was launched by Emirates NBD and listed on Nasdaq Dubai in March, said it had acquired the Uninest block in Dubai Academic City under\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7506,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-group-to-invest-66m-in-second-dublin-student-housing-project\/","url_meta":{"origin":32183,"position":4},"title":"Dubai group to invest $66m in second Dublin student housing project","date":"March 10, 2016","format":false,"excerpt":"\r GSA and Chicago-based real estate private equity firm Harrison Street plan to invest $275m in Dublin-based student accommodation over five years\r \r Source : arabianbusiness.com\r Read more...Dubai group to invest m in second Dublin student housing project","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12106,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-ripe-for-student-housing\/","url_meta":{"origin":32183,"position":5},"title":"UAE ripe for student housing","date":"May 7, 2016","format":false,"excerpt":"\r The growth that has taken place in the United Kingdom's student population over the past 15 to 20 years has quite literally reshaped cities, with purpose-built student accommodation (PBSA) providers either restoring old buildings in industrial cities or reclaiming derelict sites and replacing them with student-filled towers.Indeed, from being\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/32183"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=32183"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/32183\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=32183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=32183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=32183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}