China Resources subsidiary acquires Hong Kong hotel for student housing project

A subsidiary of state-owned conglomerate China Resources (Holdings) has acquired a Hong Kong hotel and plans to convert it into student housing amid a wave of investments driven by rising demand after the city raised the cap on non-local students. CR Longdation signed an agreement to buy four-star hotel Hotel Cozi Oasis in Kwai Chung, a major industrial and residential area in the southwestern New Territories, for HK$953 million (US$122 million), said Colliers and Knight Frank, which advised ...

By Cao Li