BSTDB Supports Student Housing in Greece
Enhancing Educational Infrastructure through Strategic Public-Private Partnership
Student housing in Greece is set to expand following a committed investment guarantee of up to €65 million by the Black Sea Trade and Development Bank (BSTDB) to Aktor Group of Companies S.A., a leading Greek construction group. The BSTDB financing supports the Public-Private Partnership (PPP) project “University of Crete Student Halls”, which aims to develop state-of-the-art educational facilities on the island of Crete. The project’s total cost amounts to €250 million and is also backed by the European Investment Bank (EIB) and Piraeus Bank.
The project includes the design, financing, construction, operation, and facility management of student residences, as well as administrative, social, and recreational facilities at the Heraklion and Rethymnon campuses of the University of Crete. It also includes the construction of an amphitheater at the Rethymnon campus. By providing modern, affordable housing options for students, the initiative is expected to significantly enhance the Greek higher education system—attracting talent from across the country and improving access to quality academic life.
“We are pleased to support this project that addresses a gap in student housing infrastructure in Greece,” said Dr. Serhat Köksal, President of BSTDB, at the signing of the agreement. “Through our cooperation with Aktor Groupand the other financing partners, we aim to strengthen the link between education and regional development. Affordable student housing is a cornerstone for equal access to higher education. This project will not only improve living conditions for students but also contribute to the vitality of local communities and the long-term competitiveness of the Greek economy.”
“At AKTOR group, our mission is to contribute to progress and prosperity through our actions and investments, creating value for our shareholders and society. Our collaboration with BSTDB will support a significant agreement with the University of Crete for the first Student Accomodation PPP project in Greece”, said AKTOR Group of Companies Chairman and CEO, Alexandros Exarchou.
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AKTOR Group of Companies is a leading market player in Southeast Europe, leveraging 70 years of experience to implement large-scale technical projects and to strategically invest in sectors such as green energy, real estate, concession projects and Public-Private Partnerships (PPPs), and integrated facilities management By 2025, the Group’s workforce is expected to exceed 7,000 employees in Greece and abroad. AKTOR Group's mission is to become a driving force for progress in its areas of operation, creating value for its shareholders and society, contributing to advancement and prosperity, and enhancing people's lives towards a sustainable future. For more info: https://www.aktor.gr
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.
Contact: Haroula Christodoulou
: @BSTDB
