UAE: Besix reaches financial close for Khalifa University housing project

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Belgian infrastructure major Besix has announced the financial close of the Khalifa University Accommodation public-private partnership (PPP) Project, confirming that the entire funding has been secured by its consortium and all the financing conditions met.

Operating under the banner of KUnnected Living, this project in Abu Dhabi represents a strategic collaboration between Besix with partners Plenary Group, Mazrui International, and United Engineering Construction.

This collaboration combines international infrastructure expertise, facilities management proficiency, and local UAE investment insight, said a statement from Besix.

Leveraging its engineering and construction expertise Besix said it is committed to delivering a project that sets the highest standards for student accommodation. Its maintenance capabilities will ensure operational excellence over the 20-year facilities management period.

Operating in the Middle East since 1966, Besix is a leading Belgian group, based in Brussels, with a strong presence and a proven track record of successfully delivering sophisticated projects throughout the GCC.

Khalifa University Accommodation is the largest student accommodation project in the GCC to be developed under a PPP model, covering 114,000 sq m on two sites and with a capacity of 3,260 beds.

It prioritises individual ensuite rooms, green spaces, natural light and student-centric amenities, ensuring an optimal living and learning environment.

Comprehensive services, including student welfare provisions, will ensure a vibrant on-campus student living experience, alongside a rich and inclusive social environment, for local and international students alike.

Following the success of the Zayed City Schools PPP project, this venture is another opportunity for industry leaders to harness the power of PPPs to enhance Abu Dhabi's social infrastructure, it stated.

With this milestone achieved, Besix said the project will move ahead with full momentum. Construction is scheduled for completion in time to welcome residents in the winter of 2026.

"By leveraging our expertise as an industrial equity provider and our leadership in the PPP domain, we are committed to setting new benchmarks and demonstrating the transformative power of public-private partnerships in driving community and economic development," remarked Peter Lembrechts, the General Manager of Besix Middle East.

As the Special Purpose Vehicle (SPV) and Facilities Management (FM) provider, Besix is a co-sponsor and the largest equal equity investor alongside Plenary Group. Its technical, commercial and financial expertise solidifies its leadership in PPPs in the region.

Elias Sfeir, Head of Concessions & Assets, Besix Middle East, said: "KUnnected Living represents a partnership rooted in synergy and excellence. With the support and trust of the Abu Dhabi Investment Authority (ADIO) and Khalifa University, KUnnected Living is well-positioned to drive this project forward."

Eric Tranchant, the Head of Operations and Maintenance (Concessions & Assets) at Besix Middle East, said: "A key component of our Facility Management team is to enhance student satisfaction through well-maintained facilities, reliable equipment, a clean, safe, hygienic living environment and seamless service delivery."

"This commitment to operational excellence is at the core of our facility management approach," he added.