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Feasibility study for the construction and operation of a student housing facility

Stefopoulos Ioannis

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Summary

This study assesses the viability of investing in the construction and operation of modern, energy-efficient student dormitories at the Technical University of Crete. The growing demand for student housing, combined with limited affordable accommodation options in the private market, highlights the necessity of developing new dormitories to enhance students' living conditions.The findings indicate that this investment could significantly contribute to the upgrading of the university’s infrastructure, benefiting both students and the local community. A SWOT analysis confirmed the project's potential, identifying key opportunities linked to the expansion of the student population while also highlighting challenges such as competition from the private real estate market and the complexity of regulatory frameworks.The project is planned in two construction phases, 500 beds in the first phase and another 500 in the second one. The timeline and task sequencing were structured using a Gantt chart, ensuring efficient scheduling of construction activities.The financial analysis was based on the analogy method, utilizing data from previous student housing investments at the university, while cumulative inflation adjustments were applied to reflect current economic conditions. Additionally, Present Value (PV) and Equivalent Annual Cost (EAC) were determined. The total investment cost is estimated at €108.8 million over a 50-year of the investment lifecycle, with an annual cost per room of €1,608. A comparative evaluation, including the University of Crete, showed an adjusted annual cost of €1,915 per room. However, the financial review does not extend to detailed cash flow projections, as the final financial structure will depend on the investment strategy adopted by the funding entity.In conclusion, the study demonstrates that the construction of sustainable student dormitories at the Technical University of Crete represents a strategically and financially viable investment, strengthening both the academic and research environment. The project's success will ultimately depend on effective investment management, rational cost allocation, and the final implementation strategy.This thesis concludes with the bibliography section.

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