BESIX RED and Promiris target PBSA sector in Spain and Portugal

Belgian property developers BESIX RED Portugal and Promiris are partnering to build 2,000 student accommodations in Spain and Portugal.

The collaboration aims to address the growing demand for student housing and high occupancy rates in the Iberian Peninsula.
The partnership will focus on building residences in strategic university cities, located near campuses, public transport, and key shops and services.
The residences will feature BREEAM "Very Good" environmental certification and prioritize student well-being.
Construction on the first residence is slated to begin in time for the September 2026 intake, with all projects expected to be delivered in stages by the end of 2028.
This strategic alliance leverages Promiris' experience in the student housing sector and BESIX RED's development expertise and ESG focus.
Gabriel Uzgen, CEO of BESIX RED, explained: “The PBSA sector holds significant potential: it benefits from the growing support of public authorities, including long-term commitments from operators and universities, as well as a clear interest from institutional investors. Beyond these market dynamics, these projects also serve a real social purpose: they help provide local and international students with a high-quality living experience that fosters good study conditions and personal development. We are pleased with this partnership with Promiris and are exploring similar opportunities in Belgium, particularly in Mons and Ghent.”
Christian Terlinden, managing partner at Promiris, stated: “Promiris entered the Portuguese market in 2018 and quickly realised the lack of student housing infrastructure in this otherwise highly rated and sought-after country in terms of the quality of its university education. Building on several successful developments, Promiris has established itself in Spain with a first project currently underway in Zaragoza. Keen to deploy its know-how more quickly, Promiris invited BESIX RED to join this development, given the presence of their already operational teams in Portugal in other segments.”