Xior clinches Zaragosa city centre development sites

Belgian REIT Xior Student Housing which works in Belgium, the Netherlands, Spain and Portugal, has won a tender to develop and operate a €26 million flagship student residence in Zaragoza city centre, Spain. The acquisition  adds a 6th city to Xior’s portfolio.

The tender was held by Zaragoza Vivienda, which is controlled by Zaragoza Municipality.

The project entails building a new development of about 388 units with communal facilities. There will be a mix of accommodation for students, professors, and young professionals and the project will be delivered in time for the 2023/24 academic year

Rehabilitation of former military sites

The project consists of two separate but adjacent land plots, both former military sites with buildings which require rehabilitation.

The project includes single, double, triple, cluster and apartment style rooms, and a specific number of beds will be made available to the University of Zaragoza.

The total investment value amounts to approx. €26 million with an expected gross yield of 8%.