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Wee Hur Forms JV to Redevelop Kowloon Building into Student Accommodation

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Wee Hur's (SGX:E3B) subsidiary, Wee Hur (Hong Kong), formed a joint venture with WM (Hong Kong) to establish Wee Hur Bedford, according to a Wednesday filing with the Singapore Exchange.

Wee Hur Bedford, a special purpose vehicle, will be owned 90% by Wee Hur and 10% by WM, the filing stated.

The SPV holds the entire issued share capital of Wee Hur Belmont, the vehicle through which the JV will own, redevelop and manage One Bedford Place, a Grade A commercial building in Kowloon, Hong Kong, converting it into purpose-built student accommodation.

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