Summary:
- China Resources subsidiary CR Longdation acquired the four-star Hotel Cozi Oasis in Kwai Chung for HK$953 million (US$122 million), marking the largest hotel transaction in Hong Kong this year.
- The buyer plans to convert the hotel into student housing, creating approximately 900 beds to meet rising demand following Hong Kong’s increased cap on non-local tertiary students.
- The transaction reflects broader market trends as Hong Kong positions itself as a global education hub, with growing mainland Chinese student numbers and government policies supporting internationalisation in higher education.
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