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CapitaLand Group Pte. Ltd. is a Singaporean headquartered company focusing on investment, development and management of real estate. The company has a presence in over 270 cities across more than 45 countries.

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economy12 h ago

CapitaLand acquires a hotel in Hong Kong for conversion into student housing.

According to Huxiu, CapitaLand Investment plans to acquire the Ibis Hong Kong Central and Sheung Wan hotel at 28 Des Voeux Road West, Hong Kong, and convert it into student housing operated by Ascott's long-stay brand Yayu. The deal is valued at about HK$2.3 billion, and would be the highest in Hong Kong's hotel-to-student-apartment wave, marking CapitaLand's first major acquisition in Hong Kong since 2014.

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CapitaLand acquires a hotel in Hong Kong for conversion into student housing.

economy12 h ago

coda.news AI summary

Target property: Ibis Hong Kong Central and Sheung Wan at 28 Des Voeux Road West in Hong Kong.
Plan: Convert the hotel into student accommodation operated by Ascott's long-stay brand Yayu.
Transaction value: about HK$2.3 billion (approximately RMB 1.979 billion).
Significance: Highest-value deal in Hong Kong's hotel-to-student-apartment wave and CapitaLand's first major HK acquisition since 2014.
Market context: Since 2026, Hong Kong hotel/office-to-student housing acquisitions have surpassed HK$8 billion in aggregate deal value.

HuxiuRead original ↗