Promiris has acquired a plot of land in Seville, Spain, where it will develop a 10.000m² above-ground student residence with 416 rooms (including 78 short-stay rooms) for Xior. This development will be carried out in partnership with CETIM on a 50/50 basis. The letter of intent for the acquisition and financing of the project by the developers has been signed by Xior.
Seville is the 4th largest student city in Spain and the residence will be located in the main artery of the city, right next to the Campus of the University of Seville and a 10 minute walk from the historic center. This ideal location has convinced Odalys, which has signed a long-term rental agreement and thus seals the 3rd joint venture project with Xior and Promiris abroad.
With this new project, Promiris opens up the Spanish market and further strengthens its expertise in the student residence segment.