Turkish purpose-built student accommodation provider UNIVA has invested £10 million into UK-based student property and facility management company Opto Living.
The investment deal with Opto Living was finalised in February 2020 and will see the acquisition of 140 luxury student studio suites in Cardiff city centre.
“Quite simply, students will find that there will be no better place to live in Cardiff”
Opto Property Group will develop and act as the main contractor, while Opto Living will be the operator and facilities manager of the brand-new site under the name of UNIVA & Opto Cardiff.
“We’re delighted to have invested with Opto Living to deliver a new standard of accommodation to those studying in Cardiff,” said UNIVA chairman, Rıza Erkanlı.
“With this partnership between our like-minded and forward-looking organisations, we will deliver exceptional student living at competitive prices.
“Quite simply, students will find that there will be no better place to live in Cardiff.”
Amenities at the new accommodation will include a wide range of sporting and leisure facilities including a basketball court, tennis court, games room, clubhouse, spa treatment room and wellness salon.
It will also have a private dining room, on-site management and security, and a 24/7 reception service.
“UNIVA & Opto Cardiff defines luxury student living,” said Jerald Solis, director of Opto Property Group.
“Developed in close consultation with Cardiff City Council, it has been carefully designed to meet the exacting needs of the students at the three prestigious universities in the city.
“The development centres around the concept of ‘Collective Living’ as we strive to future-proof the accommodation to meet the needs of the broad spectrum of those living in our building.”
UNIVA is Turkey’s first and largest purpose-built student accommodation provider. It is a subsidiary of Erkanli Holding, a real estate investment specialist with experience in domestic and international projects.
UNIVA currently provides fully furnished student houses in Turkey, with a total capacity of 4,911 bed spaces, which will increase to 10,000.
The company is set to continue investment into the UK and will be followed by stakes in the German and Spanish student housing markets.
