Abu Dhabi- The KUnnected Living consortium, led by the Plenary Group, has successfully finalized the financing for a groundbreaking student accommodation project in the UAE, marking a significant milestone as the largest initiative of its kind in the GCC region. This project, known as the Khalifa University Student Accommodation Project, was secured through a public-private partnership (PPP) awarded by the Abu Dhabi Investment Office (ADIO) in collaboration with Khalifa University of Science and Technology.
This ambitious endeavor will result in the creation of 3,260 student rooms, along with communal facilities, across two campuses: Khalifa University’s Main Campus and the Sas Al Nakhl (SAN) Campus. The project, which spans a 23-year concession period, includes the design, construction, financing, and ongoing maintenance of these facilities, demonstrating a strong commitment to improving student living standards in Abu Dhabi.
Plenary Group, the lead sponsor, holds a 45% equity stake in the consortium. Alongside managing the financial and commercial arrangements, Plenary Group will oversee the project’s management and ensure the smooth operation of the facilities. BESIX, a Belgian construction firm and co-sponsor, also holds a 45% equity interest and will be integral in managing the facilities. The remaining 10% equity is held by Mazrui International, an Abu Dhabi-based company with extensive real estate interests.
This project is a vital component of Abu Dhabi’s Public-Private Partnership Programme, aimed at increasing private sector involvement in developing major public infrastructure and services. By partnering with private entities in the development and management of student accommodations, the government seeks to provide high-quality living spaces that support the academic and personal development of students at Khalifa University. The new facilities will accommodate approximately 65% of the university’s 5,000 students, significantly enhancing the institution’s capacity to offer on-campus housing.
Khalifa University, which ranks 181st globally according to the QS World University Rankings 2023, is a leading academic institution in the UAE, with a strong emphasis on science, engineering, and medicine. This project aligns with the university’s strategic growth plan, which prioritizes improving physical infrastructure and creating a vibrant on-campus experience. The university currently boasts three colleges, three research institutes, 18 research centers, and 36 departments, reinforcing its status as a center for cutting-edge research and education in the region.
This initiative highlights Abu Dhabi’s dedication to leveraging private sector expertise and investment to meet the evolving needs of its educational institutions, ensuring that students enjoy world-class facilities that enrich their university experience.
