Specialist student accommodation firm Quares Student Housing has inked a deal for 129 student homes in the Brouck’R mixed-use project in Brussels, developed by Immobel and BPI Real Estate.
Financial details were not disclosed.
Construction of the project, which is centrally located next to the Brouckèreplein, is due to begin by the end of this year.
Quares, the property service provider that also manages Quares Student Housing’s investment fund, will manage and rent out the student flats.
Herman Du Bois, CEO of Quares Student Housing said: 'Thanks to the nearby campuses, cultural facilities, outstanding public transport links, not to mention a wide selection of bars and restaurants, the area offers everything a student needs.'
With 110,000 students, the Brussels Capital Region is Belgium’s largest student city, while also suffering from an acute accommodation shortage, according to Immobel research.
In recent years, higher education colleges and universities in Brussels have enjoyed strong growth, some years even expanding at a rate of 10%. This has led to more than half of students being forced to look for rooms on the private rental market, the Belgian developer said.
