BigCity and Reditum Capital partner enter Portugal’s student housing market

BigCity, a development, investment and property management company specializing in student and co-living accommodation across Europe, and Reditum Capital have agreed joint venture funding for the development of BigCity Asprela, a €30 million ($35.8 million) student accommodation facility in the main university district of Porto, Portugal.

The joint venture funding marks the partners’ first entry into Portugal, a country characterized by a highly fragmented purpose-built student accommodation market with a significant supply-demand imbalance.

BigCity Asprela is a 241-bed student accommodation facility located at Asprela campus, Porto’s main university district and home to around 35,000 students. The 12-story building, which was designed by OODA and is being built by Teixera Duarte, one of Iberia’s largest contractors, is on schedule for completion in July 2022 ahead of the start of the academic year.

BigCity Asprela will be instantly recognizable due to i