Speedwell, a Romanian-Belgian property developer controlled by Belgian investors, has announced plans to buy land in Warsaw and build a 600-bed student housing project, marking the start of its wider expansion in the Polish market and the region.
“We have ambitious plans to acquire a project portfolio in Poland similar in size to our Romanian portfolio,” Speedwell co-founder Didier Barkan said.
“Our main acquisition targets include a range of asset classes, including houses for sale both in Warsaw and the regional city, apartments for rent, student accommodation, office space and industrial property. We believe in the potential of the Polish market and the wider Central and Eastern Europe region,” he added.
Speedwell's Polish subsidiary has purchased the 2,290 square meter plot from BPI Real Estate Poland and Aktium together with the building permit and project blueprints, which will ensure a smooth start to the development.
Speedwell will further implement the project, leveraging its development experience in the Romanian market.
The Purpose-Built Student Accommodation (PBSA) project will provide around 600 beds and meet the growing demand for quality student housing in Warsaw. Construction is scheduled to start in the first quarter of 2025 and be completed before the start of the 2026-2027 academic year.
According to Economica.net, citing real estate consultancy JLL Poland, Poland faces a shortage of more than 400,000 student accommodation beds, the sixth-largest shortage in Europe.
The student population in Poland has grown significantly with the increase in the number of foreign students.
There are around 115,300 beds in public dormitories in Poland, accommodating only 9% of the student population. In larger cities, the figure ranges from 5% to 15%. Warsaw, a major study abroad destination, has the lowest number of public dormitories beds per student at 4%.
iulian@romania-insider.com
(Photo provided by the company)