Mapletree Investments Marks Foray Australia Student Housing Market Acquisition Perth Site

SINGAPORE (July 12): Mapletree Investments has acquired a 1,398-sqm site along Wellington Street, Perth, which will be developed into an 835-bed student housing asset. This marks Mapletree’s first entry into Australia’s student housing sector, as part of its broader move to focus on this asset class as a core sector. The value of the acquisition was not disclosed by the company. According to The Australian Financial Review, the development is worth around A$300 million ($279 million) when completed. “We’ve got significant global growth targets that incorporate Australia as a key area of growth for us,” says Matt Walker, CEO, Student Housing, Mapletree. Since entering the student housing market in 2016, Mapletree has grown its portfolio to 79 properties with over 27,800 beds across the US, UK, Canada and Germany. The site was bought from Alceon, an investment manager, which will remain involved as the project’s development manager. Advertisement According to Mapletree, the site is located near several universities such as Edith Cowan University, Curtin University Law School, University of Western Australia and ECU City Campus, which is an upcoming development set to open in 2026. Construction for the 32-storey-tall development will commence between August this year and December 2027 and will be operational by February 2028. “Australia’s student housing sector has attracted robust investor interest due to its large student population, limited supply and counter-cyclical features,” says Walker. “Perth remains one of Australia’s most undersupplied CBDs for student accommodation despite being home to many prestigious institutions.” He adds, “We are excited about this scaling opportunity and look forward to delivering a top-tier asset that will greatly appeal to both students and investors.” This article first appeared on .

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