Eos Capital, through the Namibia Infrastructure Development and Investment Fund (NIDIF), has invested in StudentStay, a developer of two student accommodation buildings with a combined 752-bed capacity near the Namibia University of Science and Technology (NUST) valued at over N$500 million.
StudentStay, which is open to all students from tertiary education institutions in Windhoek and has taken in its first tenants in February 2024, created 100 jobs during the construction period.
Eos said the investment is expected to transform the student accommodation landscape in Windhoek and play a crucial role in fulfilling NIDIF’s mission to develop economic and social infrastructure assets in Namibia.
“We will be hosting the future leaders of Namibia. Everyone deserves equal opportunity, and when we set out to design the assets, quality and affordability were at the center of our philosophy. StudentStay will be an extension of NUST’s tertiary training, creating a safe and conducive environment for learning. Seeing these buildings take shape in the nexus of the campus has been an absolute privilege to have made happen,” Eos Capital’s Chief Investment Officer, Frederico Van Wyk said.
The private equity firm said despite the increasing demand for student housing, Windhoek faces a scarcity of purpose-built student accommodation infrastructures, with only three currently in existence.
“Recognizing this gap, Eos Capital’s investment will address the pressing need for modern, safe, and affordable accommodation for tertiary students in the region. By providing a conducive learning environment, this investment is expected to improve educational outcomes in Namibia and ultimately contribute to long-term economic growth and prosperity in doing so,†EOS said.
Eos Capital is a Namibian private equity firm with over N$1 billion in assets under management, targeting sectors such as Energy, Water, ICT, Transport and Logistics, Healthcare, and Education, through the Allegrow private equity fund, Euphrates Agri fund, and NIDIF.
NIDIF targets infrastructure projects in Namibia through equity funding to generate long-term, stable, and robust income yields and capital growth for its investors.
In November, the NIDIF acquired a minority stake in Lightstruck Holdings to develop the first-ever open-access fiber network in the country.
