SINGAPORE - Singapore Press Holdings has recorded a revaluation gain of 6.7 per cent, or £22.8 million on its purpose-built student accommodation portfolio in the UK.
On the back of further investments, the portfolio grew to £338.4 million, comprising 5,059 beds across 10 cities in the UK. SPH - which owns The Straits Times - expects the UK student accommodation sector and overall investor interest in this area to remain strong, with up to £3.5 billion of investments likely to come in this year.
SPH said that it has been boosting its operational expertise in the sector. Marketing capabilities have been expanded with a centralised marketing and sales office in China to capitalise on the demand by Chinese students for higher education in the UK.