CR Longdation acquires two hotels in Kwai Chung for student housing conversion

China Resources Longdation has acquired two hotels in Kwai Chung for HK$440 million, converting both into student housing to meet surging student accommodation demand.

The newly acquired properties comprise the 24-story Hotel Ease Tsuen Wan and the 21-story Hotel Ease Access, with a combined total of 330 rooms.

Spanning a total gross floor area of around 157,906 square feet, the transaction translates to a price of HK$2,786 per sq ft.

This transaction follows the company's acquisition of Hotel Cozi Oasis in Kwai Chung for HK$953 million in March this year. 

Meanwhile, that project has been renamed as Brim Youth, providing roughly 900 student accommodation spaces with monthly rents starting at HK$6,500.

All three hotel properties were previously held by the family of the late Hong Kong "Shop King" Tang Shing-bor.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓