Far East Orchard to develop housing for university students in UK
The 690-bed student housing is seen to be completed by 2027.
Far East Orchard Limited, said it will build housing for university students in Bristol, UK by acquiring a plot of land in the area.
For the acquisition of Plot 6 Silverthorne Lane, the hotel company said it entered a joint venture (JV) with Woh Hup Holdings Limited and Way Assets.
Under the JV, Far East Orchard will have an effective 42.5% interest in the development and will be mandated to fund its committed capital of $22.5m (£13.3m).
The site is located less than a kilometre from University of Bristol’s new campus, Temple Quarter Enterprise Campus. The construction for the student housing is expected to be finished in five years.
This development also marked the firm’s fourth investment in Bristol, which is also one of the UK's leading university cities.
Far East Orchard CEO Alan Tang said the JV intends to expand their footfall in Bristol to back the city’s increase in student population.
$1 = £0.69
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