Mumtalakat, Investcorp explore potential partnership in UK student housing

Manama, July 4 (BNA): Bahrain Mumtalakat Holding Company and Investcorp announced that they are discussing the creation of a joint platform to manage and invest in student housing assets in the United Kingdom.

The announcement comes as part of a series of initiatives led by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, who is currently on an official visit to the United Kingdom, to strengthen trade relations between the United Kingdom and Bahrain.

As part of this potential initiative, Mumtalakat and Investcorp will look to jointly own a student housing-focused operating platform established by Investcorp. The platform, which manages the refurbishment and leasing of Investcorp’s multi-occupational home (HMO) assets in the UK and assists with acquisitions and underwriting, currently operates a portfolio of approximately 1,200 beds in Nottingham, Bristol, Exeter and Leeds.

In the context of growing demand for accommodation from both domestic and international students in the UK, the platform’s ambition is to acquire an additional 700-1000 beds annually over the next several years, becoming one of the largest operators of HMO student accommodation in the UK. UK over time.

“We continue to explore investment opportunities that will add value and grow our portfolio through strategic partnerships. By collaborating with Investcorp, we believe we will be able to create a best-in-class investment platform that is focused on meeting the growing demand,” said Sheikh Abdullah bin Khalifa Al Khalifa, President. Executive Property, Student Residences UK.

Rishi Kapoor, Co-CEO of Investcorp, said they believe there is a lack of well-managed, well-maintained, and affordable HMO assets in major UK university cities.

“Our platform strives to provide a best-in-class service that benefits students, parents, the university ecosystem and the towns and cities in which we have assets, and we believe it can be further enhanced by a potential partnership with Mumtalakat. A key component of our investment thesis is a significant upgrade of the asset fabric and improvement ESG Assets Credentials”.

HF