Develia has purchased a plot of land in central Wrocław, where it plans to develop a student accommodation project with around 600 rooms and two facilities. The property was acquired from a company within the Puro Hotels group for close to €10 million.
The 3,200 sqm plot is located just 300 meters away from the Świebodzki Railway Station.
"Poland is among the European leaders in terms of the number of students, with an average dormitory coverage rate of only 9.4%, and for private dormitories, only 1.2%. This is far below the levels of developed markets in Western Europe. We believe that the PBSA (purpose-built student accommodation) market is far from saturation and has prospects for dynamic growth," said Karol Dzięcioł, a Board Management Member at Develia.
The company aims to start construction of the student accommodation complex in 2026 and deliver the project within two years.
Meanwhile, Puro Hotels has new projects under development in Budapest and Prague and will open a new hotel in Warsaw in the near future.
