Which university bought office units in Sha Tin?

Hang Seng University purchased office units in the Metropole Square building in Sha Tin.

How much did Hang Seng University pay for the office units?

Hang Seng University paid HK$90 million (US$11.6 million) for the office units and four parking spaces.

Why is Hong Kong encouraging universities to buy property?

The government is encouraging universities to acquire property as part of a strategy to develop Hong Kong into a global education hub.

Home / Business and Economy / HK University Buys Office Space for US$11.6M

HK University Buys Office Space for US$11.6M

11 Dec

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Summary

Hang Seng University acquired 19,139 sq ft office space.
The deal includes four car parking spaces in Sha Tin.
Proceeds will help Alco Holdings repay bank borrowings.

HK University Buys Office Space for US$11.6M

Hang Seng University has acquired office units in Sha Tin for HK$90 million (US$11.6 million), securing 19,139 sq ft of space along with four car parking spaces. The purchase from Alco Holdings is part of Hong Kong's broader initiative to establish itself as a leading international education destination.

The transaction, involving the 11th floor of Metropole Square, is set for completion in January. Alco Holdings will utilize the proceeds primarily for repaying bank loans and financial guarantees, signaling a strategic financial move for the consumer electronics firm.

This acquisition by Hang Seng University reflects a growing trend of educational institutions investing in property. It supports the government's push to attract more international students and bolster Hong Kong's reputation as a global educational hub.

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