Paddy Allen has joined as European director, while Craig Johnson has joined as director for the Middle East and North Africa region. Coral said the new team will grow operations in these territories, which are new for the company, working in addition to Coral’s existing presence in Asia.
Coral’s chief executive John Kennedy, who has been a staunch supporter of the student accommodation sector in recent years, despite its knock backs, said: “Institutional appetite for [student accommodation] has never been higher as student numbers are predicted to exceed 100 million in the next 10-years.
“We intend to remain at the forefront of the huge opportunities ahead as we begin Coral's journey to $1bn assets under management.”
Allen, a UK qualified chartered surveyor, joins the company from Internos Global Investors where he was a portfolio manager and ran property projects for the company in the UK and Australia. He will be based in Coral’s London office.
Meanwhile, Johnson is a property investment specialist with over 10 years of experience in the UAE dealing with all classes of real estate, including student accommodation.
Based in Coral’s Dubai office, he joins from Reef Real Estate Investment where he managed their portfolio. Johnson previously headed Landmark Properties’ investment management division.
