Wee Hur to expand student accommodation business in Australia
Its business trust has, through wholly-owned sub-trust, acquired properties there for a total consideration of A$46m
Claudia Tan HS
Singapore
WEE Hur Holdings announced on Friday that its purpose-built student accommodation (PBSA) business trust in Australia has, through its wholly-owned sub-trust, acquired properties there for a total consideration of A$46 million (S$44 million).
The acquisitions are in line with the group's strategy to venture into Australian-focused PBSA with the aim of collecting passive recurring rental income, it said in a regulatory update.
TRENDING NOW
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose
Deal between tycoon friends sparks scrutiny of Philippine power sector
Singapore’s S$80 million vertical farm must pass the 50-cent test to succeed
