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Veszprém University opens Ft 2.7 bln dormitory built in PPP

The University of Veszprém, west Hungary opened on Thursday a new Ft 2.7 billion student dormitory completed in a public-private partnership (PPP) scheme with OTP Real Estate, the real estate unit of OTP Bank, and construction company Magyar Épít?.

The university will pay the two companies Ft 32 million a month to rent the 854-bed dormitory for the next 20 years, after which ownership of the dormitory will revert to the university for a token price of Ft 1.

 

There is a shortage of student housing on campus, university rector Zoltán Gaál said. The university has 7,200 students, of which 850 are living in accommodations rented by the university. The university is subsidizing rent for a further 1,536 students who live in private accommodations. Students living in the new dormitory will pay Ft 9,000-11,000 a month toward their housing costs.