Mixed use project residential/student housing
At the end of May 2018, Promiris acquired an abandoned industrial site in Porto in the residential neighboUrhood of Bomfim-Campanha. The site is close to the city centre, the Douro River and is well served by public transport which offers a direct access to the main campus of the University of Porto.
In its current configuration, the site allows a mixed use development of 7,000 sqm including a residential part (16 apartments) and a student housing accommodation of 211 units. The success of the Erasmus programs and the excellent reputation of the major Portuguese universities have generated a strong growth in the number of foreign students.
Building permits have been obtained and the works are underway. Completion is expected in the second half of 2021.
Promiris has concluded a joint venture agreement with Xior Student Housing, the Belgian real estate investment trust (BE-REIT) specialised in student housing, for the realization of this project.