Hong Kong's Far East Consortium sells student housing to JD.com for $95.6 million

Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST

HONG KONG, July 6 : Hong Kong property developer Far East Consortium (FEC) said in a filing published on Monday that it has agreed to sell a student accommodation project to a unit of JD.com for HK$750 million ($95.63 million).

• This is the second property JD.com has bought in Hong Kong in less than a year. In December, it bought a 50 per cent interest in an office tower in the city’s central financial district for HK$3.5 billion from another cash-strapped developer, Lai Sun Development.

• FEC said it will continue to manage the student accommodation for three years following the completion of the sale and pay to the project a guaranteed income of HK$45 million in each of those three years.

• The developer said the deal provides an opportunity to establish a strategic relationship with the JD Group and to explore opportunities for further cooperation including potential student accommodation projects in Hong Kong.

CNA Games

Guess Word
Crack the word, one row at a time

Buzzword
Create words using the given letters

Mini Sudoku
Tiny puzzle, mighty brain teaser

Mini Crossword
Small grid, big challenge

Word Search
Spot as many words as you can
Show More
Show Less

• FEC would recognise a disposal gain of HK$423 million from the sale, and it would use the proceeds to repay an existing HK$630 million bank loan, and use the remainder as working capital.

• Encouraged by a surge in non-local student demand, Hong Kong has recorded active transactions, both purchases and leasing, in the student housing segment. Real estate consultancy Colliers said there were HK$11.1 billion worth of education-related investments in the first five months of 2026, following HK$4 billion last year, which accounted for 11 per cent of total commercial investment volume in 2025.

($1 = 7.8429 Hong Kong dollars)

Newsletter

Week in Review

Subscribe to our Chief Editor’s Week in Review

Our chief editor shares analysis and picks of the week's biggest news every Saturday.

Sign up for our newsletters

Get our pick of top stories and thought-provoking articles in your inbox

Subscribe here

Get the CNA app

Stay updated with notifications for breaking news and our best stories

Download here

Get WhatsApp alerts

Join our channel for the top reads for the day on your preferred chat app

Join here