Malaysian engineering and property group Gamuda Berhad, together with Singapore-based Q Investment Partners (QIP), are expanding their student housing development in Woolwich, London.
The Phase 2 agreement comes shortly after the topping out by CField Construction聽of Phase 1, Gamuda鈥檚 first UK purpose-built student accommodation (PBSA) project and QIP鈥檚 first scheme in London.
Phase 2, with a gross development value of 拢41.5m, will add 120 student beds, bringing the total to 419 beds across both phases, and a combined GDV of 拢144.5m. The phase 2 site was acquired from Hurlington Capital and is scheduled for completion in the fourth quarter of 2026.
Gamuda Land chief executive Chu Wai Lune said: 鈥淲e鈥檙e pleased to deepen our collaboration with QIP on this next phase of our Woolwich development. The success of Phase 1 reinforces our confidence in the UK student housing sector and in our ability to create high-quality, sustainable living spaces that resonate with global student needs.
鈥淎t Gamuda, we view the UK as a strategic market and are steadily growing our presence through carefully selected partnerships and opportunities. This expansion reflects our commitment to scaling our PBSA footprint across key academic cities, bringing the same level of design quality and community focus that define our developments globally.鈥�
The Phase 1 topping out ceremony, held earlier this month, marked the structural completion of the initial 299-bed development and was attended by co-developers Hurlington Capital, along with other key stakeholders including main contractor CField Construction, and Alpha Real Estate Finance.
Peter Young, chief executive and co-founder of Q Investment Partners, added: 鈥淭his Phase 2 agreement underscores the strength of our joint venture with Gamuda and our shared ambition for delivering institutional-quality student accommodation that meets the evolving needs of students while creating long-term value for our investors and communities. The Woolwich schemes play a key role in QIP鈥檚 portfolio and represents our flagship PBSA development in London, reflecting our long-term commitment to the UK market.鈥�
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