Summary:
- Centaline Investment Management (CIM) has appointed Turner & Townsend to manage the conversion of the 17-storey Regal Oriental Hotel in Kowloon City into a student accommodation facility, following CIM’s HK$1.52 billion acquisition of the property from Regal REIT.
- The redevelopment will create approximately 1,586 student beds, leveraging the site’s proximity to major universities and transport hubs like Sung Wong Toi and Kai Tak MTR stations, addressing Hong Kong’s growing demand for student housing.
- Turner & Townsend will oversee comprehensive project and construction management, including building upgrades, fire safety, and interior conversion, with a focus on regulatory compliance, sustainability through material reuse, and delivering a high-quality living environment aligned with CIM’s expansion goals.
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