Dwell expands accommodation reach in Australia
Purpose-built student accommodation provider, Dwell Student Living, has continued its expansion into Australia, with the opening of a $45.5 million property in Adelaide aimed at tapping into South Australia’s growing international education industry.
“We expect that the demand for student accommodation continues to remain strong”
The property named Dwell Est End Adelaide opened in early November, and it aims to take advantage of the city’s shortage in purpose-built student housing options and provide tailored services to students.
“With most of the international student population based in Adelaide, purpose-built student accommodation remains undersupplied in the city, as only 1,128 beds will be delivered in 2018, with a similar amount planned for 2019 as well,” a Dwell spokesperson said.
“Given that purpose-built student accommodation remains undersupplied in the city, we expect that the demand for student accommodation continues to remain strong.”
The 21-storey property, which is located in Adelaide’s central business district and will be available for students from semester one 2019, sees Dwell continue its Australian expansion and enter the South Australian market for the first time. Currently, the company also offers RMIT Village in Victoria.
Speaking with The PIE News, the representative added the property also sought to improve international students’ academic outcomes, help them acclimate to a new country and meet their cultural and linguistic needs.
The property is expected to create a “stable source of revenue” for Dwell’s parent company, Singapore-based purpose-built living provider Centurion Corporation Limited, and joins other locations in the US, UK, South Korea, Singapore.
European-based student accommodation think tank, Class of 2020, recently signalled its plans to increase its global exposure at its recent conference in Milan.