China Resources

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China Resources subsidiary acquires Hong Kong hotel for student housing

A subsidiary of China Resources (Holdings), CR Longdation, has acquired the four-star Hotel Cozi Oasis in Kwai Chung for HK$953 million and plans to convert it into student housing with about 900 beds. The deal, the largest hotel transaction of the year, comes amid rising demand following Hong Kong's increase of the non-local student cap to 50 percent.

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