Summary:
- China Resources Longdation acquired two hotels in Kwai Chung for HK$440 million, converting the 24-story Hotel Ease Tsuen Wan and 21-story Hotel Ease Access into student housing with a combined total of 330 rooms.
- The properties cover approximately 157,906 sq ft, with the acquisition price equating to HK$2,786 per sq ft, reflecting strategic expansion in the student accommodation sector.
- This deal follows the company’s March purchase of Hotel Cozi Oasis in Kwai Chung for HK$953 million, now rebranded as Brim Youth, offering around 900 student units with rents starting at HK$6,500 per month.
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