PRESS RELEASE

Turner & Townsend, the global programme management company, has been appointed by Centaline Investment Management (CIM), the investment arm of one of Hong Kong’s leading property agencies, to provide project and construction management services for the conversion of the Regal Oriental Hotel in Kowloon City into 229,067 sq ft (21,281 sqm) of purpose-built student accommodation.  

Following CIM’s acquisition of Regal REIT’s 17-storey hotel for approximately HK$1.52bn (US$194mn) and to meet growing demand for student accommodation in Hong Kong, the development will transform the asset into a large-scale student housing scheme. Upon completion, it will deliver approximately 1,586 beds and benefits from close proximity to major universities and transport links, including Sung Wong Toi and Kai Tak MTR stations. 

Turner & Townsend will lead the integrated delivery of project and construction management services including oversight of building upgrades, fire safety improvements, building services enhancements and full interior conversion works to meet current regulatory requirements and CIM’s operational standards. The project will involve reuse of existing building materials, supporting sustainability objectives while paying homage to the site’s history. Early engagement with authorities will be key to maintaining delivery momentum. 

“This is a high-impact project for us, representing a significant step in how we approach asset repositioning – combining long-term investment value with the creation of purposeful, high-quality living environments for students.

“Delivering a scheme of this scale and complexity requires strong collaboration and alignment from the outset. We have taken a partnership-led approach, bringing together the right expertise to ensure the project is executed efficiently and to a high standard. 

“By working closely with our project teams and stakeholders, we are focused on maintaining quality, managing programme risks and achieving a smooth transformation of the asset. 

"Together, we are setting a new benchmark for student accommodation that is both forward-looking and responsive to the needs of a dynamic, international student population.” 

Vina Li

Project Director

Centraline

This major project represents a significant step in CIM’s ambition to scale its student housing platform – with its growing CampusOne Communities platform – to advance Hong Kong’s position as a leading cross-border education hub through strategic investment in high-quality student accommodation. CIM is targeting a portfolio of 6,000 beds in the coming years.  

“We are proud to support and partner with Centaline Investment Management to help bring this impactful project to life by delivering a scheme that addresses real local need while unlocking value from an existing asset. 

“Our appointment reflects the continued growth of Hong Kong’s student accommodation sector, as the city strengthens its position as a leading international education hub.  

This future-focused scheme responds to strong demand for student beds supported by rising non-local student enrolment and increasing pressure on existing supply. 

“Converting a hotel of this scale into purpose-built student accommodation requires careful coordination across statutory approvals, design and construction.

“Our focus will be on maintaining programme certainty, proactive risk management and efficient coordination across all stakeholders to ensure smooth delivery. 

“By bringing together our project and construction management expertise, we aim to deliver a high-quality, compliant and cost-efficient transformation that delivers for the city of Hong Kong and its student population.”

Colin McBride

Head of Hong Kong and Macau,

Turner & Townsend