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HMG Developments Launching for the First Time its Student Accommodation in South Carolina, USA

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Dubai, UAE, August 1, 2015

HMG Properties, a leading international real estate group based in the GCC, has announced the launch of its first Student Accommodation project in USA with the name of Academic Square Carolina in South Carolina, United States with an aim to capture a large chunk of the growing student accommodation market.

Located in Gaffney, South Carolina, Academic Square Carolina joins HMG Properties’ impressive American portfolio, which already boasts of high-quality luxury and budget homes. The new project is located minutes away from major colleges and universities such as University of South Carolina, Limestone College, Strayer University, among others.

Academic Square Carolina is built on HMG’s confidence on the district’s potential to attract international students. Currently more than 20 million students are enrolled in US colleges and universities, and the overall college enrollment growth in the United States is projected to grow to 24 million by 2022.

With record numbers of international students arriving in the US combined with funding challenges for some institutions to expand on-campus housing facilities, the onus now falls on private off-campus property developers to serve the growing demand. Investment in such high-demand properties therefore give buyers attractive returns and yield in the coming years.

Raed Bourjass, CEO of HMG Properties, pointed out that Academic Square Carolina was conceived as a resilient asset class property with the ability to drive returns even during a real estate downturn. . “The sector’s rent growth and occupancy figures have outperformed traditional multi-family apartments during the recent downturn, encouraging the current investor demand for student housing property.,” he added.
Academic Square Carolina features spacious units available in 1- or 2-bedroom options for local and international students. With a built-up area of 49 square meters or 65 square meters, the units are equipped with state-of-the-art facilities and round-the-clock security.

HMG Properties is a leading real estate group locally, regionally and internationally. It offers residential, investment and development Properties in the United States, United Kingdom and Spain. The group provides a full range of services for property registration, delivery of the ownership documents and legal papers professionally and safely at the office of the country where the purchase and sale process is accomplished.