The halls are for Glasgow International College, a pathway venture run by Kaplan and the university, and will serve 276 students.
Rick Hume, director of commercial projects at Kaplan, told The PIE News: “What drove the decision was the lack of suitable accommodation for our students, with Glasgow having the least amount of bed space per student in all of Scotland.
The halls, which are based in Glasgow’s West End, offer a range of rooms that were “tailored to the needs of students” after discussion with students, parents and agents.
Kaplan said it would commit £24 million to the project over 15 years
Kaplan, which has a track record of providing accommodation services, said £24m was its rental commitment to the halls. It would not disclose projected profits but expects the venture to be profitable and help recruitment.
Said Hume: “We are aware that students have become more discerning so we are approaching this new business to meet their needs for good location, high specification and a more rounded international student experience.
“In addition to improving the student experience, we do certainly expect this to be a profitable business.”
Recent reports from the property industry suggest student accommodation in the UK will be a healthy investment space for years to come, with overseas students driving demand in spite of visa curbs.
In other news Kaplan’s US higher education division, which covers about 70 campuses, announced it would close nine campuses and consolidate four others into existing nearby locations last week. Kaplan did not give a reason or identify the campuses which are US based, the Washington Post reported.