Hopes to list within seven years.
It has been two years since property developer Growthpoint launched its student accommodations. Since then, Growthpoint Student Accommodation Reit has invested R1.5 billion in new investments in the alternative property sector.
Growthpoint has added 4 000 new beds for students, expanding its portfolio value to approximately R3.5 billion. This includes 12 residences with 9 000 beds across Cape Town, Johannesburg, and Pretoria. With two new developments in progress, it anticipates increasing its beds to 10 400 for the 2025 academic year.
“Our new purpose-built properties, developed by Growthpoint Properties and Feenstra Group, are proving particularly popular, attracting the highest demand and occupancy,” he continued. “Our high occupancy levels demonstrate strong demand and the commercial success of our purpose-built student accommodation model, which is supported by quality development and the Thrive Student Living brand, which resonates with our target market,” says Mocumi.
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