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Education group leases Tower B at China Life Centre in Kowloon
The tenant will transform about 36,400 sq ft into a purpose-built education complex as Hong Kong faces a shortage of available school places for expatriate and immigrant families.
A Hong Kong-listed education group has completed a major leasing transaction for a commercial tower in Kowloon, with CBRE attributing the move to demand from an influx of immigrant and expatriate families, according to SCMP Economy.
The tenant agreed to occupy and repurpose the entire Tower B at the China Life Centre in Hung Hom, Kowloon, creating a purpose-built education complex totaling about 36,400 sq ft, the outlet said.
The project is part of a broader shift that CBRE expects could boost the education sector’s role in Hong Kong real estate investment and leasing, as the city faces a shortage of school spots for children of expatriates and immigrant families.
SCMP Economy reported that the education operator would not be named under a non-disclosure agreement, but its leader said the business runs non-tertiary schools in mainland China and is listed on the Hong Kong stock exchange.