Abu Dhabi’s Khalifa University Accommodation Public-Private Partnership (PPP) project, the Gulf region’s largest student accommodation PPP project, has achieved financial close, KUnnected Living consortium partner Besix announced on Wednesday.

Other members of the international consortium include the Australian Plenary Group, the UAE’s Mazrui International and United Engineering Construction (UNEC).

A Besix statement said “all funding has been secured and financing conditions met” but didn’t disclose details about the financing structure or its participants.

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.

Abu Dhabi Investment Office (ADIO), in collaboration with Khalifa University of Science and Technology, procured the project under a design, build, finance and maintain contracting model for a period of 23 years inclusive of construction period.

Khalifa University Accommodation covers an area of 114,000 square metres on two sites with total capacity of 3,260 beds.

Construction is scheduled for completion by winter 2026.

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

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