United Overseas Plaza poised for conversion into 240-room student housing

United Overseas Plaza in Kwun Tong, owned by the family of the late industrialist and politician Wong Po-yan, founder of United Oversea Enterprises, has applied to convert more than 90 percent of its floor area into student housing, after plans to redevelop the site into a commercial tower five years ago failed to materialize.

The conversion involves 90,000 square feet, providing 240 rooms ranging from 81 to 211 square feet and 434 hostel beds. If approved, operations are expected to begin by June 2028. 

The plaza has a total floor area of about 95,000 square feet, in which the student accommodations cover levels 1 to 10. The ground-floor office and toilets, about 5,432 square feet, are excluded from the application and will retain their existing use.

Located at 11 Lai Yip Street, the plaza was originally an 11-storey industrial building completed in 1970. It was converted into offices in 2012 under the Revitalisation of Industrial Buildings scheme and was zoned for "Other Specified Uses” annotated "Business" use. 

The family has been confirmed as eligible for the Hostels in the City Scheme for private student accommodation, and has therefore applied to the Town Planning Board for partial conversion to hotel (student housing) use.

Records show the family applied in 2021 to redevelop the plaza into a 29-storey commercial tower with a total floor area of about 162,000 square feet, which was approved by the Town Planning Board in early 2022.
 

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