Ahli United Bank Acquire Durham Student Accommodation
25th Sep 2018
Student accommodation specialists, GSA, officially opened their marketing showroom for its latest Dublin development last week.
The 400-bed Uninest New Mill, situated on Mill Street, is due to open in September and represents the second of four developments that GSA will have delivered to Dublin by 2019 as part of its EUR 250 million building programme.
In additional to Uninest on Mill Street, GSA also plans to provide an extra 491 beds at Kavanagh Court. In addition, by September 2018 the company will have delivered 570 student beds with the opening of their fourth Dublin residence on Brunswick Street.
Tim Mitchell, CEO for the EMEA region, said of their investments: "Our current business plan is to aim towards the delivery of 5,000 bed spaces in Dublin over time. Ultimately, the investment of EUR 250m that we announced when we started out two or three years ago, with a plan to do 2,000-3,000 bed spaces may double to EUR 500m as a result of our confidence in the market in Dublin."
The company also expressed interest in expanding into Galway, but at the moment confirmed its focus on the Dublin market.
Expectations are that the Irish education market will continue to grow at a rapid pace and that it could benefit from the message that Brexit sends to students to the wider world.
Mr Mitchell also believes that Donald Trump could have a greater impact than Brexit in terms of increasing Ireland's attractiveness to international students. The CEO notes that when George Bush previously sent unfriendly messages to international students globally, there was an increase in students coming to Europe who would have otherwise chosen to study in America.
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