Mapletree Investments Marks Foray Australia Student Housing Market Acquisition Perth Site
Singapore-based Mapletree Investments has recently acquired a 1,398-sqm site in Perth’s Wellington Street, with plans to turn it into an 835-bed student housing asset. This marks the company’s first entry into Australia’s student housing sector and is part of its larger strategy to focus on this asset class as a core sector.
The value of the acquisition was not disclosed by Mapletree, but according to the Australian Financial Review, the development is estimated to be worth around A$300 million upon completion. The acquisition reflects Mapletree’s global growth targets, with Australia being a key area for growth.
“We’ve got significant growth targets that are global growth targets that incorporate Australia as a key area of growth for us,” says Matt Walker, CEO of Student Housing at 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 Wellington Street site was purchased from Alceon, an investment manager, and they will remain involved as the project’s development manager.
The site is strategically located near several prestigious universities including Edith Cowan University, Curtin University Law School, University of Western Australia, and ECU City Campus, which is set to open in 2026. The 32-storey development is expected to be completed by December 2027 and operational by February 2028.
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“Australia’s student housing sector has attracted robust investor interest due to its large student population, limited supply, and counter-cyclical features,” says Walker. Despite being home to many prestigious institutions, Perth remains one of Australia’s most undersupplied CBDs for student accommodation.
“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,” he adds. This acquisition reflects Mapletree’s confidence in the Australian market and their commitment to providing quality student accommodation. With a strong track record in the sector, Mapletree is poised to make a significant impact in Australia’s student housing market.
