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Ageas Portugal Group, Promiris and Cetim Sign Agreement to Build Student Residence in Porto

December 4, 2021 – Ana Custódio

The Purposed Built Student Residence will have 265 rooms.

Ageas Portugal Group, Promiris and Cetim have signed an agreement to acquire the land a build the student residence near Asprela, in Porto. The Purposed Built Student Residence is located near the Faculty of Engineering of the University of Porto. The accommodation consists of 265 rooms combined with high-quality leisure and collaboration spaces, managed by the French Odalys Group.

The project was designed by S+A Architects and will receive a Lider A environmental certification. Construction is scheduled to begin this month, and the residence is expected to open its doors during the summer of 2023. The investment is estimated at more than 10 million euros.

After having invested mainly in offices in the last two years, the Ageas Portugal Group is expanding into this new asset class, attending to a crucial need in Portugal.

Translation: Richard D K Turner