SINGAPORE (March 28): Wee Hur Holdings is planning to acquire a freehold land with an existing office warehouse building in Adelaide, Australia, for $6.4 million.

The group intends to develop it into a purpose-built student accommodation.

In a filing on Tuesday night, Wee Hur said the proposed acquisition is in line with the group’s strategy to venture into Australian-focused Purpose-built Student Accommodation (PBSA) with the aim of collecting passive recurring rental income.

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