KAJIMA APPOINTS NEW MANAGING DIRECTOR OF STUDENT DEPOT

Michal Obara joins as the Managing Director of Student Depot, Poland’s largest student accommodation provider. The appointment follows Kajima's acquisition of Griffin Capital Partners’ shareholding in Student Depot and the opening of nearly a thousand additional beds in 2023, wrapping up a successful year for the business.

Michal brings over ten years of experience in real estate capital markets and development and nine years in finance, analysis and reporting. Having been part of the Student Depot team in 2017, prior to Kajima’s shareholding, Michal has extensive expertise in student housing acquisitions, development and lettings processes. In his new role, he will oversee the implementation of Kajima’s ambitious growth strategies for the business as it enters its next phase.

Michal Obara joins Student Depot from Echo Investment, one of the largest developers in Poland, where he played a pivotal role in supporting property acquisitions and evaluating investment strategy and portfolio performance.

As an active and longstanding investor in Poland, Kajima acquired the majority interest in Student Depot in 2019, and rapidly expanded the platform into the country's largest purpose-built student accommodation provider. Currently, almost 4,200 students are housed by Student Depot across the key university cities of Warsaw, Kraków, Poznań, Lublin, Wrocław, Łódź and Gdańsk.

Student Depot recently completed the development of their second dormitories in Warsaw and Lodz and commenced their latest development in Poznan, which will double Student Depot’s presence in the city. Student Depot will start developing its second Gdansk project in 2024, and the team is actively looking for further development opportunities across the country.

John Harcourt, Managing Director of Kajima Properties, said: “It is fantastic that Student Depot has attracted someone with Michal’s experience and knowledge of the Polish market as we enter our next phase of growth. As Poland’s largest and best PBSA platform, Student Depot is a hugely successful business, and with Michal’s expertise, we can provide more students with fun, safe and high-quality accommodation tailored to their needs, cementing our position as the leader in the Polish market.