Far East Orchard Increases Stake Uk Purpose Built Student Accommodation Homes Students 84

Far East Orchard, a property developer and hospitality company based in Singapore, has announced the completion of the second phase of its acquisition of Homes For Students (HFS), a student accommodation provider in the United Kingdom. This latest transaction has raised Far East Orchard’s interest in HFS to 84%.

In April 2024, Far East Orchard originally announced its acquisition of a 49% stake in HFS for GBP17.6 million. The business acquired this stake from two non-management sellers. In the first stage of the phased acquisition, Far East Orchard purchased 35% of HFS for GBP25 million, or around $43.3 million. With its current stake now at 84%, HFS has officially become a subsidiary of Far East Orchard.

and give a hyperlink to the word “Showflat”.

The upcoming developments in Tampines, as supported by the Master Plan, are set to bring about a mix of residential and commercial spaces, paving the way for more job opportunities in the area. This is in line with the government’s efforts to decentralize business activities from the CBD and promote the growth of regional hubs such as Tampines. With the Parktown Residence conveniently located in this thriving neighborhood, residents will have easy access to these emerging job hubs, reducing their commute time and improving their quality of life. For those interested in learning more about this exciting development, the Parktown Residence Showflat is available for viewing. Simply visit Parktown Residence Showflatto find out more.

HFS operates over 55,000 beds in more than 55 university towns and cities across the UK and Ireland. It offers an integrated student accommodation management and facilities management service. Far East Orchard plans to acquire the remaining stake in HFS by November 2030.

Shares in Far East Orchard closed at $1.25 on Sept 30, declining by 1 cent or 0.794%.