Hong Kong Sells Land for Student Dorms as Offices Lose Appeal

Hong Kong is turning to student housing to attract property investors. The move comes as demand for new office space has weakened. The government is testing a new land-sale model. For the first time, it will sell sites with a rule that they must be used only for building student hostels. On Tuesday, the Development Bureau asked for bids on three plots of land. The sites are in Kai Tak, Sha Tin, and Tung Chung East. All are zoned for commercial use but will now be used for student accommodation. This shift is a direct response to poor market interest in commercial land sales. By offering land for purpose-built student housing, officials hope to maintain investor activity in the property sector.