CMC REIT spent over 200 million to purchase properties in Kowloon, planning to convert them into student apartments providing 85 beds
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CMC REIT (1503) has acquired a student apartment project located in Kowloon through its wholly-owned subsidiary, with a purchase price of HKD 206 million, representing a discount of 3.3%. The property will be transformed into a modern student apartment with 85 beds, and the lower floor area will feature shared living spaces. This acquisition aims to explore new asset classes, enhance the fund's income and distribution stability, and plans to seek more quality assets for investment in the Greater China region
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