Building on this, Wee Hur acquired One Bedford Place, a 26-storey Grade-A commercial building in Tai Kok Tsui, Kowloon, for around HK$750 million, or $95.6 million, which is a deemed by Ng as a "deep-value purchase" given its 62% discount to its previously cited valuation of HK$1.98 billion.
Ng Jia Hui of DBS Group Research has maintained her "buy" call and 90 cents target price on Wee Hur Holdings after its plans to enter Hong Kong’s purpose-built student accommodation (PBSA) market through two investments.
The first, Starvia by Y Suites on Fortress Hill, is a 246-bed PBSA asset held via a joint venture with Starvia Holdings and is expected to commence student leasing in 2H2026.
This development is located directly opposite Fortress Hill MTR Station, the property is well positioned to capture demand from both local and international students.
