Smart Studios to Add 786 Student Rooms Across Three New Lisbon Developments
The developer Smart Studios, in partnership with Cari Construtores, has announced a significant expansion of its student housing portfolio in Lisbon with three projects that will deliver a total of 786 new rooms to the market. The construction company has recently completed a 224-room student residence in the Lumiar parish, a project representing a €10 million investment. The project specifications for this development, which began in the first quarter of 2023 and was finalized in the second quarter of 2024, are part of a continued collaboration aimed at addressing the high demand for student accommodation in the capital. This initiative is a direct response to the ongoing shortage of housing available for the city's large student population.
The construction timeline for the company's next phase of development is already in progress. A second Smart Studios residence, located in Areeiro, is currently under construction and is projected to be completed by the end of this year, adding another 268 rooms. Furthermore, a third project in the Ajuda neighborhood was launched in June, with plans to build 294 rooms. The completion of the Ajuda facility is scheduled for the final quarter of 2026. The combined investment for these three projects in Lumiar, Areeiro, and Ajuda totals €40 million. This significant capital allocation underscores the strategic importance of the purpose-built student accommodation (PBSA) sector in Lisbon's real estate market.
A key architectural design and building feature of these projects is the integration of prefabricated modules produced by MODS, a company within the dstgroup that specializes in industrial construction solutions. These modules, which include a private bathroom and kitchenette, are delivered to the site fully equipped, a construction methodology that significantly reduces project execution times and ensures a high standard of quality control. In addition to the private living spaces, the residences are equipped with a wide range of amenities, including study rooms, lounges, cinema rooms, gyms, and laundry facilities, designed to cater to the needs of modern students. Rui Alves, the production director for the Smart Studios projects at Cari Construtores, stated in a press release that these developments “demonstrate that it is possible to respond to demand with quality, innovation, and competitive execution times.” He also highlighted the company's strategic focus on technological innovation to address the urgent needs of the sector, providing students with secure and functional housing options.
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