Plenary Group has achieved financial close on the Khalifa University Student Accommodation Project in the GCC region.

The project was awarded to the Plenary-led KUnnected Living consortium by the Abu Dhabi Investment Office (ADIO) in collaboration with Khalifa University of Science and Technology (Khalifa University) and financial close was achieved on August 14, 2024. The development includes a 23-year concession to design, build, finance, and maintain 3,260 student rooms and communal facilities located across Khalifa University’s Main Campus and its Sas Al Nakhl (SAN) Campus. The KUnnected Living consortium comprises

• Plenary Group as lead sponsor, financial and commercial arranger, 45% equity investor, facilities management provider, and SPV manager
• BESIX as co-sponsor and 45% equity investor and facilities management provider
• Mazrui International as a 10% equity investor
• United Engineering Construction as a contractor.

Major construction will commence shortly, and the project is due to be completed by the end of 2026.