Strong results and growth on the student housing market for Xior

Spotted in @tijd

Student housing specialist Xior has just presented its annual results for 2020. The company saw its income increase sharply: net rental result rose to 57.9 million Euros, 29% more than in 2019. This growing income is due to Xior's takeover policy. In the autumn, the company bought the Zernike Toren, with almost 700 student rooms, in Groningen for 92 million Euros. Xior also took over several projects in Spain and Portugal.

The 11,000 rooms in the portfolio are now worth 1.55 billion Euros, almost a third more than in 2019. And the growth will not stop for the time being. Xior has also bought two new projects in Leeuwarden (18.5 million Euros) and Malaga (23 million Euros) in Spain.

And now Xior is launching a capital increase of 179 million Euros to finance its growth. .

In Spain and Portugal, which account for less than a fifth of the portfolio, Xior is feeling the corona crisis more sharply. In Barcelona, for example, the demand for student rooms is falling. According to Xior, the tourism sector is venturing into the student market in an attempt to find an alternative designation for its unused capacity (students can also live in Airbnb homes). If the corona crisis continues and the summer vaccination does not ease travel restrictions, this could have a noticeable impact on summer property rentals. .

Read more in the report of De Tijd [ Xior doet kapitaalverhoging ]