International Campus AG and Stichting DUWO Develop Student Housing and Studios in the Netherlands
- Jun 05, 2014
Amsterdam—In its first international venture, International Campus AG has partnered with Stichting DUWO for the financing and development of student housing and studios targeting young professionals in the Netherlands.
Under the agreement, International Campus will invest in the construction of five buildings totaling 2,250 student housing units, while DUWO will be in charge with the subsequent management of the properties.
Wouter van den Eijnden, the managing partner of IC Netherlands B.V., a subsidiary of International Campus AG, will finance the initial portfolio of buildings. At a later stage, the two companies plan to develop studios for young professionals and postgraduates.
Dutch Minister of Housing Stef Blok was present at the signing of the cooperation agreement at the Holland Property Plaza Symposium in Amsterdam, the companies announced.
“DUWO’s aim is to create good and affordable housing for students. If we don’t act now, there will be a shortage of 28,000 student apartments in the Netherlands by 2020. That is why we are happy about the cooperation with International Campus. It allows us to build new living space for students and continue to develop our housing concepts,” Jan Benschop, CEO of Stichting DUWO, says.
According to Horst Lieder, CEO of International Campus AG, the housing market in the Netherlands is very attractive, with a high long-term demand for small living spaces in a large number of cities.
“With this cooperation, International Campus will embark on its first international activity as an investor and developer. This joint venture is an important milestone in the process of focusing the attention of institutional investors on the asset class of student accommodation,” Lieder adds.
Based in Munich, International Campus AG is an investor, developer and operator of innovative student residences. With many years of experience in its field, the company focuses on cities with an above-average growing market for high-quality student housing.
DUWO, a civil society organization based in Delft, owns more than 27,000 apartments, which makes it the leading provider of student housing in the Netherlands. It is a foundation under public law and its predecessor “SDSH” was founded in 1945. The company has decades of experience in the operation, development and management of student apartment buildings and now owns numerous properties in the Hague, Delft, Leiden and Amsterdam, where it is currently developing the 260-unit Elsevier building.
As of the end of 2012, the Netherlands had more than 660,000 students at 13 state universities and 38 technical universities. In the 2013 academic year around 53,100 young people embarked on Bachelor’s or Master’s degree courses in the Netherlands.