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City University Buys Kowloon Office for HK$1.96 Billion

1/2/2026

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Summary

Story summary

City University of Hong Kong purchased a Kowloon office property for HK$1.96 billion (US$252 million).
The acquisition reflects a trend of educational institutions buying office assets as Hong Kong's market stabilizes.
The property is a 214,000 sq ft low-rise office block acquired from Mapletree Pan Asia Commercial Trust and is over 90% occupied.
Mapletree Pan Asia Commercial Trust aims to optimize its portfolio amid a sluggish Greater China office market.

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Story summary

City University of Hong Kong purchased a Kowloon office property for HK$1.96 billion (US$252 million).
The acquisition reflects a trend of educational institutions buying office assets as Hong Kong's market stabilizes.
The property is a 214,000 sq ft low-rise office block acquired from Mapletree Pan Asia Commercial Trust and is over 90% occupied.
Mapletree Pan Asia Commercial Trust aims to optimize its portfolio amid a sluggish Greater China office market.