HONG KONG SAR – Media OutReach – 5 December 2022 – Hong Kong is a small city with a large population and high housing prices. For young people who are just starting their careers and have a limited budget, it is not easy to rent an apartment and live alone. Therefore, the coliving serviced apartment model has become a great alternative from the traditional housing rental market. The coliving serviced apartment allows tenants to enjoy flexible leases, and some of the rent includes management fees, utilities, internet access, and weekly cleaning and laundry services.
Sham Shui Po Coliving Serviced Apartment Expansion
In recent years, the nearly 60-year-old buildings on Yen Chow Street in Sham Shui Po have become a new target for investors. Bridgeway Prime Shop Fund and Owl Square Coliving Space investors spent about $100 million to acquire properties at 11-19 Yen Chow Street. The 60-year-old building will have 72 residential units, said Owl Square founder Max Poon, “Sham Shui Po is a core residential area in Hong Kong with mature city development. There are large shopping centers in the vicinity. It takes only 7 minutes to walk to Nam Cheong or Sham Shui Po Station, so it is very convenient to travel to all districts in Hong Kong. We will carry out value-added renovations to the property and provide high quality and affordable serviced apartment rental solutions for this new expansion.”
The issuer is solely responsible for the content of this announcement.