Groundbreaking start for award-winning Waterford Purpose Built Student Accommodation Project

Construction has officially commenced on Western Australian property developer Exal Group’s new Purpose Built Student Accommodation (PBSA) project in Waterford – with the Minister for Planning and Housing, Hon John Carey MLA, Curtin Deputy Vice-Chancellor Global (interim), Professor Xiaotian Zhang, and Leila Bothams, Principal of Canning College joining project representatives to turn the first sod in a ceremony held at the site today.

Located at 1 McKay St, Waterford, and adjacent to both Canning College and Curtin University, the project will provide accommodation solutions for more than 900 students. Phase 1 of the project is expected to be completed in January 2026, in time for the intake of students for Semester 1, 2026.

The $150 million property is set to be developed by innovative WA-based property developer Exal Group. Exal has developments in excess of $1 billion GDV spanning across two countries. The Waterford PBSA is Exal’s first student accommodation project and will be one of the largest PBSA properties in Perth once completed. This expansion into the PBSA sector will complement Exal’s proven track record of delivering premier mixed-use and residential development projects.

The property will be managed by Yugo, the first global student housing brand created to enhance students’ overall experiences throughout and beyond university life. Yugo operates more than 110 student living spaces across nine countries and more than 70 cities including the notable Yugo Perth City on Stirling Street. This venture underscores its continuous commitment to providing extraordinary living environments for students worldwide.

The three towers will feature ground floor retail tenancies including a convenience store, food court, café and restaurant.

The property will also be equipped with extensive recreational facilities for students to enjoy, including a gym, basketball half-court, theatre, games room, rooftop gardens, a study hall and study rooms. 

The innovative project was recently awarded Best Student Accommodation Development at the prestigious PropertyGuru Asia Property Awards (Australia).