Stadio buys land to expand multiversity offering
Stadio, the fledgling tertiary-education venture, has put a large slab of prime real estate behind its much-mooted “multiversity” offering. Stadio announced at an annual general meeting on Monday that it had snapped up almost 8ha of vacant land in Cape Town’s Durbanville to develop a new campus. The news coincided with an upbeat trading update that showed student numbers at Stadio — boosted by recent acquisitions Lisof and Milpark — topping about 26,500. This is considerably higher than Stadio’s prelisting forecasts and lends credence to the company’s contentions around strong latent demand for affordable private tertiary education. Considering the second semester intake and the possibility of more acquisitions, Stadio CEO Chris van der Merwe believed student numbers could reach 30,000 by the end of 2018.
The Durbanville development will be Stadio’s first large greenfield investment and will be crucial in the company’s long-term goal of accommodating 100,000 students. The comp...