Mainboard-listed Wee Hur Holdings has entered Hong Kong’s purpose-built student accommodation (PBSA) market, announcing two properties within a week.
Wee Hur announced on June 9 that it had acquired One Bedford Place, a 26-storey Grade-A commercial building in Tai Kok Tsui, Kowloon, for an undisclosed sum.
With a total gross floor area of 184,000 sq ft, including two basement floors, the building will be converted into a 500-bed PBSA.
This follows Wee Hur’s 246-bed Starvia by Y Suites on Fortress Hill, announced on June 5.
Wee Hur’s hospitality arm Wee Hur Hospitality has entered into a master lease arrangement for the 19-storey PBSA asset through a joint venture with Starvia Holdings. According to Hong Kong company directory portal ltddir.com, Starvia Holdings was incorporated in December 2025.
Marketing is underway, with leasing expected to commence in 2H2026.
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Located at 151 King’s Road in Fortress Hill, Starvia by Y Suites is located directly across Fortress Hill MTR Station on Hong Kong Island, offering connectivity to the University of Hong Kong, City University of Hong Kong, Hong Kong Metropolitan University, the Hong Kong Polytechnic University and Hong Kong Shue Yan University.
The property features fully furnished apartments ranging from self-contained studio deluxe units to two-, three- and four-bedroom shared layouts in standard and premium configurations.
According to Wee Hur, the asset features amenities tailored to student living, including study areas and quiet study rooms, a common laundry room, a gym, a common lounge, 24/7 reception and CCTV security.
See also: Wee Hur to expand Hong Kong PBSA portfolio with acquisition of One Bedford Place
Online checks show that 151 King’s Road is the former address of Shama Fortress Hill Hong Kong, a serviced apartment by Shama Hotels & Serviced Apartments, which is owned by Thai conglomerate Italthai Group. The Shama Fortress Hill Hong Kong property is no longer featured on Shama’s website.
Undersupplied market
Hong Kong’s PBSA market is in a growth phase, supported by government policy to position the city as an international post-secondary education hub, says Wee Hur.
The non-local student admission quota at publicly funded universities doubled from 20% to 40% in the 2024/2025 academic year, with a further increase to 50% pledged from the 2026/2027 academic year.
As the only city in the world with five universities ranked in the global top 100, Hong Kong continues to attract a growing pool of non-local students, numbering approximately 92,000 in the 2024/2025 academic year, according to Colliers.
This rapid growth has created a significant shortfall in PBSA supply, says Wee Hur. Colliers estimates an existing shortfall of approximately 94,000 beds, with total demand projected to reach 172,200 beds by 2028, leading to a forecasted shortfall of approximately 120,000 beds.
Demand has been further reinforced by the “Hostels in the City” scheme, introduced in July 2025 — a pilot initiative to quickly convert commercial buildings (including hotels) into student hostels.
New growth market
Wee Hur’s core businesses include property development and construction in Singapore and Australia, alongside the development and operation of large-scale worker dormitories and PBSA.
Wee Hur’s fund management arm Wee Hur Capital manages PBSA-focused funds, while its alternative investments division explores opportunities in venture capital, private credit and private equity.
Wee Hur Hospitality created the Y Suites brand in 2020 and launched it for its Australia PBSA portfolio.
According to slides shown at Wee Hur’s 2026 annual general meeting in April, the group holds stakes in nine PBSA properties in Australia totalling 6,779 beds. Meanwhile, its management platform operates the 409-bed Y Suites on Margaret in Sydney and the upcoming 708-bed Y Suites on Frome in Adelaide, which is targeted to open in 2H2027.
Starvia by Y Suites on Fortress Hill extends Wee Hur’s established track record in PBSA beyond its existing portfolio and fund management platform in Australia, marking the group’s entry into a new growth market, says the group.
This venture allows Wee Hur to participate in recurring, demand-led operating income while leveraging the Y Suites brand and operating expertise.
The group says it will continue to evaluate opportunities to further expand its portfolio in Hong Kong.
“Hong Kong is one of Asia’s most compelling student accommodation markets, with strong, policy-backed demand and a clear shortage of quality, professionally managed supply,” says Eric Wang, deputy general manager, Wee Hur Hospitality. “Starvia by Y Suites on Fortress Hill is an ideal first asset for us — superbly located, purpose-built for students, and within easy reach of the city’s leading universities.”
Wee Hur shares closed at 64 cents on June 5, down 14% year to date.
Photo: Wee Hur
