In conversation with Pieter Feenstra
FEENSTRA GROUP
T he Feenstra Group, a major force in South Africa’s property sector, is preparing to export its expertise in purpose- built student accommodation to a new frontier: Eastern Europe. Founder and Chairman Pieter Feenstra confirms that Poland and Hungary are key targets for this next phase of growth, marking a significant new chapter for the company. “Eastern Europe is where South Africa was 10-15 years ago,” Pieter says, drawing a direct parallel to the early days of South Africa’s student accommodation sector. “The region is just starting with purpose-built student accommodation and it’s a very fragmented market, so we think there’s potential.” This interest stems from meticulous, on-the-ground investigation. “We spent a lot of time there, meeting with people to gain a deeper understanding of the market and viewing properties. We came away with a very good feeling,” he explains, reflecting on the methodical approach that defined his initial foray into South Africa’s student housing market more than two decades ago. Pieter confirms the Group is in active talks with institutional investors and potential local partners to launch this ambitious venture. However, he tempers expectations for a quick Eastern Europe deal announcement.
“These wheels turn slowly,” he admits, suggesting the first deal is likely years away. “It will take us time. We need a substantial amount of capital. We want to do this right, not rush and make mistakes.” The expansion model will mirror the group’s successful foray into Australia, which relied on a partnership with a knowledgeable local operator. “It’s the same model as Australia,” Pieter confirms. “You need a partner in those countries. Somebody on the ground that knows the lie of the land.” The Feenstra portfolio of student property buildings includes the development of buildings based in Australia: one called Atira Melbourne, located in the city of Melbourne and boasting 894 beds, the other called Atira Brisbane in Brisbane, with 700 beds, as well as some others. The Feenstra Group also developed and sold nine other buildings in Australia, with nearly 600 apartments. Pieter says Australia has provided some learning curves about entering a foreign country and the pitfalls facing property developers. “You are viewed differently and need a good local partner,” he says of entering a new market. His bold international vision is the latest evolution in his remarkable 30-year-long career that began not in property, but in engineering. It’s a journey defined by foresight, a preference for sectors that address fundamental social needs, and an unshakable, if pragmatic, commitment to South Africa.
Atira Melbourne in Australia
October 2025 | Issue 141 | Asset Magazine 131
130 Asset Magazine | Issue 141 | October 2025
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