Durrant Pate/Contributor

University student accommodation provider, 138 Student Living (138SL) is transitioning from recovery to disciplined growth positioning and sustainable shareholder value creation.

The new company positioning was articulated by its, CEO, Cranston Ewan, who emphasised, “138SL is stronger, more disciplined, and better positioned for long-term growth,” telling shareholders at its Annual General Meeting (AGM) earlier this week, “our focus remains on operational excellence, financial stability, and delivering sustainable returns to shareholders.”

He presented a positive outlook for Jamaica’s leading provider of purpose-built student accommodation, locally based on the following factors:

• Strong recurring demand for student accommodation;
• High asset utilisation;
• Continued operational improvements;
• And a focused strategy centred on disciplined execution and sustainable earnings growth.

2026 strategic priorities

Shareholders attending the AGM at the Jamaica Pegasus Hotel were told of the several strategic priorities for the current 2026/27 financial year ahead, which includes maintaining high occupancy levels at the University of the West Indies (UWI) Mona Campus, advancing debt refinancing initiatives to strengthen liquidity and improve the maturity profile of the balance sheet and continuing engagement with campus administrators regarding outstanding Irvine Hall-related matters.

In addition, the management plans on enhancing operational efficiency and cost management initiatives and sustaining profitability and long-term shareholder value creation. For his part, company Chairman, Ian Parsard outlined a year of disciplined execution and operational resilience, supported by sustained demand for student accommodation within the UWI Mona campus.

138SL’s refinancing strategy, Parsard said, is intended to improve financial flexibility and better align debt servicing obligations with operating cash flows. For the financial year ended September 30, 2025, 138SL had revenue of $1.4 billion, representing year-over-year growth, net profit of $266 million, reflecting significant improvements and strong operating performance driven by near-full occupancy levels and improved operational efficiency.

138SL is also reporting consistently high occupancy levels approaching full capacity during peak periods, reinforcing strong long-term demand fundamentals within the student housing market. 

Governance and Corporate Responsibility

138SL reaffirmed to shareholders its commitment to strong corporate governance, transparency, and stakeholder engagement. The company continues to support student development initiatives, including accommodation support programmes and broader community engagement efforts.

138SL has earned an ‘A’ rating (89.31) on the Jamaica Stock Exchange (JSE) Corporate Governance Index (CGI), completing a significant five-year improvement from a C- rating.