Birmingham-based developer and investor Sama Investments has secured a £500m equity injection to support the delivery of its development pipeline of purpose-built student accommodation (PBSA) and residential schemes.
The funding is made up of significant investment from investors in the Far East and will help to accelerate delivery of schemes such as the recently approved 710-student bed and 546-home Garrison Circus regeneration scheme in Digbeth (pictured).
It will also enable the company to take advantage of other PBSA and residential opportunities including stalled development sites, strained assets and buildings which require cladding, remediation upgrades, and future-proofing, as well as new to market opportunities.
Sama’s principle focus is on the West Midlands market, but it also has sites in major regional cities such as Sheffield and Nottingham.
Bilal Ahmed, executive chairman and founder at Sama Investments, said: “This investment represents a vote of confidence in Sama Investments and our teams, but also the West Midlands as a home for international capital. The fundamental conditions which exist in the region are attractive to global investors.
“Whilst enabling us to deliver our pipeline, and take on new opportunities, we are also focused on creating long-lasting value for communities through exciting development and regeneration opportunities. This funding will enable us to deliver thousands of new homes and student beds at an accelerated pace, create jobs and support economic growth across the region.”
