Abu Dhabi Investment Office (ADIO), in collaboration with Khalifa University of Science and Technology, has awarded Khalifa University Student Accommodation PPP (Public-Private Partnership) Project located in the UAE capital to KUnnected Living, a multinational consortium led by Australian Plenary Group and including Belgian-French company BESIX, and the UAE’s Mazrui International.

According to an ADIO statement, the project, billed as the largest student accomodation PPP in the Gulf region, has been procured under design, build, finance and maintain contracting model with an operating period of 23 years.

It covers 3,260 student rooms and communal facilities located across Khalifa University’s Main Campus and Sas Al Nakhl (SAN) Campus.

The statement issued by ADIO didn’t disclose financial details or completion timeline but said the project has achieved commercial close.

The Expression of Interest (EOI) invite for the project was issued in January 2023 followed by Request for Qualification (RFQ) in February 2023. The project was planned to be built in two phases with the first phase expected to be ready by the third quarter of 2026. 

In April 2024, the consortium leader Plenary had announced that it has entered into an agreement with Abu Dhabi-based investment and holding company ADQ for the latter to acquire a 49 percent interest in Plenary, subject to necessary regulatory approvals.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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