KUALA LUMPUR: Gamuda Bhd
’s property arm Gamuda Land has acquired a prime site at 14 Marshgate Lane in Stratford, London, for a new purpose-built student accommodation (PBSA) development with a gross development value (GDV) of RM600 million.
This marks Gamuda Land United Kingdom’s (UK) first fully owned, self-developed and managed PBSA project, underscoring the company’s growing capability in one of the world’s most sophisticated property markets.
The Marshgate Lane acquisition advances Gamuda Land’s plan to deliver up to 3,000 student beds across key UK cities over the next five years, reinforcing the company’s focus on building a pipeline of recurring, income-generating assets.
"Together with its residential and commercial developments, this portfolio reflects Gamuda’s regionalisation strategy of diversifying earnings and strengthening resilience across economic cycles," said the company in a statement today.
This latest addition brings Gamuda Land’s UK PBSA portfolio to 1,232 beds across three projects in just 18 months.
Meanwhile, Gamuda Land chief executive officer Chu Wai Lune said PBSA is a counter-cyclical asset class underpinned by strong and consistent student demand, which helps balance its residential and commercial portfolios.
He said the UK has one of the world’s largest international student populations with over 680,000 enrollments, yet purpose-built accommodation currently accounts for less than 30 per cent of supply.
"This structural undersupply, coupled with universities’ ongoing global appeal, gives us confidence in long-term earnings visibility,” said Chu.
Gamuda Land’s UK pipeline now stands at £1.5 billion (1£=RM5.62), anchored by the landmark £1.2 billion prime office redevelopment of 75 London Wall in partnership with Castleforge.
It further said the PBSA expansion also complements Gamuda Land’s West Hampstead Central build-to-sell residential project, creating a balanced UK portfolio across recurring income, capital gains and institutional-grade commercial assets. - Bernama
