The SGX-listed group is paying just under HK$750 million ($95.6 million) to acquire One Bedford Place, a newly completed commercial tower in Tai Kok Tsui, Kowloon from receivers appointed by Bank of East Asia, according to market sources who spoke with Mingtiandi, with local news reports in February having pointed to a HK$1.98 billion value for the 29-storey property. 

Strategic context

The Hong Kong moves extend a student housing platform Wee Hur built over five years in Australia, where it launched the Y Suites brand in 2020 and developed roughly 6,000 beds near universities in Sydney and Melbourne in partnership with Singapore sovereign wealth fund GIC. The group sold the seven-asset portfolio to US multifamily giant Greystar for A$1.6 billion ($1.01 billion) in late 2024.

Since the Greystar sale, Wee Hur has continued to build its student housing fund management business, establishing a new A$57 million fund in November to hold a development in Adelaide.

Wee Hur’s entry adds to a growing wave of institutional investment in Hong Kong student housing as the city’s non-local student admission quota at publicly funded universities rises to 50 percent from the 2026/27 academic year, up from 20 percent two years earlier.