France-based investor and developer UXCO Group has announced that it had reached close to 100% occupancy at the end of September across all its ECLA co-living residences (XXL premium student and young professional residences).
As business expands for the company, UXCO Group has also accelerated its development pipeline with recent acquisitions and new projects. Amongst these includes its ECLA co-living residence near Geneva.
Over €140m in investment and 1,200 new beds since the beginning of 2023 have supported the company’s ambition, who is able to manage the entire value chain as an investor, developer and operator of large-scale co-living real estate.
“We owe our success to our expertise across the entire value chain, along with our teams’ proximity to our student and young professional residents that enables us to meet their needs and anticipate new trends. We target to reach a total of 25,000 beds in five years’ time thanks to the growth of our unique ECLA XXL premium co-living and student concept and our UXCO Student residences.”Maël Aoustin, CEO and President, UXCO Group Management Board
With its recent openings and new acquisitions, UXCO Group has a total of 73 residences, 13,200 beds (including 6,600 owned beds, 4,600 beds for the ECLA brand alone) and a real-estate portfolio value exceeding €1bn.
Through this unique position in this asset class, the group is able to pursue major projects with the inauguration of Europe’s largest student and co-living residence in Massy-Palaiseau in Paris, which includes 1,800 beds. Developed by UXCO Group’s development arm Océanis, the scheme opened at the end of August under the ECLA co-living brand.