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Wee Hur Buys Distressed Hong Kong Office Tower

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Wee Hur Holdings (SGX:E3B) has acquired a 26-story office tower in Hong Kong named One Bedford Place, according to a filing with the Singapore Exchange on Tuesday.

Shares of the property developer were up over 2% in Wednesday trading.

Wee Hur intends to convert the tower into a 500-bed student housing project, with operations expected to start in the first half of 2028.

Bank of East Asia has assumed control of the property after developer Lofter Group encountered financial difficulties in managing the distressed asset, according to a Tuesday report by the South China Morning Post.

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