International real estate firm Savills facilitated the whole-block leasing transaction of a student accommodation building at 46 – 48 Pak Tin Par Street, Tsuen Wan. This marks the third whole-block leasing project arranged by Savills this year for local student housing operator Youth Dorm.
Mr. Larry Yeung, Director of Jianlibao and Shareholder Representative of the project’s owner, has entered into a formal partnership agreement with local student accommodation operator Youth Dorm. Under the arrangement, Youth Doem will pre-lease the property and assume operational management upon completion, transforming it into a large-scale premium student housing community with more than 500 student beds.
Facilitated by Savills, Mr. Larry Yeung and Mr. Raymond Lam, Founder of Youth Dorm, recently signed a cooperation agreement at Youth Dorm Sheung Wan, marking a strategic partnership to develop high-quality student accommodation in Hong Kong. The project is currently in the detailed design and planning stage and is expected to be completed in approximately three years.
Located on Pak Tin Par Street in Tsuen Wan, a key industrial and commercial hub with excellent transport links and amenities, the site was formerly the headquarters building of Ideal Group. Savills successfully brokered its acquisition in November 2020 for approximately HKD 310 million by the current owner, World Partners Limited.
Upon completion, the development will provide 264 rooms and over 500 bed spaces, primarily serving Mainland Chinese students studying in Hong Kong and local tertiary students. The property is within a 20-minute drive of several major universities, including The Chinese University of Hong Kong, City University of Hong Kong, Hong Kong Baptist University, The Hong Kong Polytechnic University, Lingnan University and Hong Kong Chu Hai College.
The project will also feature more than 40,000 sq ft of communal facilities, including a library, private study rooms, sports facilities and social spaces, creating a vibrant, all-in-one student community that supports living, learning and personal development.
Supported by the Hong Kong Government’s ongoing efforts to strengthen the city as an international post-secondary education hub, together with the increase in the non-local student admission quota at publicly funded institutions from 40% to 50% starting from the 2026/27 academic year, demand for student accommodation is expected to continue rising. Against a backdrop of persistent supply-demand imbalance in the student housing sector, the project is well-positioned to capture growing market opportunities.
Mr. Alan Tam, Associate Director, Investment of Savills said,
“As Hong Kong continues to strengthen its position as an international higher education hub and attract more non-local students, demand for quality student accommodation is expected to grow steadily. Student housing benefits from resilient rental demand, while professional management, comprehensive amenities and convenient accessibility will be key differentiators for successful projects.
The fact that the operator has committed to a whole-building lease approximately three years ahead of completion reflects strong confidence in the medium- to long-term prospects of the student accommodation sector. With its strategic location in Tsuen Wan, substantial scale and extensive communal facilities, the project is well positioned to provide a high-quality, community-oriented living environment for students studying in Hong Kong.”
Mr. Larry Yeung, Director of Jianlibao and Shareholder of the Project stated,
“Hong Kong’s world-class higher education sector continues to attract students from across the Greater Bay Area and Mainland China, driving increasing demand for professional, high-quality and secure student accommodation, where a significant supply gap remains. With extensive experience in student-focused services, comprehensive safety management and youth community operations, Youth Dorm brings a distinct competitive advantage to the sector.
Through this partnership, we aim to establish a new benchmark for quality student housing in Tsuen Wan, providing students with an enhanced living experience while supporting the long-term development of talent exchange and educational collaboration across the Greater Bay Area.”
Mr. Raymond Lam, Founder of Youth Dorm said,
“As talent mobility and educational collaboration across the Greater Bay Area continue to deepen, more students are choosing Hong Kong for their studies. However, securing suitable accommodation remains a challenge, with fragmented housing supply, information asymmetry and limited community support.
Guided by our ‘Safe Living, Empowered Growth’ philosophy, Youth Dorm is committed to providing more than just accommodation. Leveraging our professional operating expertise, we will deliver quality housing management and community services to create a safe, comfortable and welcoming living environment for students.”