STOCKS | Far East Consortium Sells Yau Ma Tei Student Housing Property for HK$750 Million

Far East Consortium International (0035) said it has signed a sale and purchase agreement with JD Fabulous, a unit of JD.com (9618), to sell 100% of the issued share capital of Jet Colour Ltd for HK$750 million, according to Ming Pao. The company said Jet Colour holds a property in Yau Ma Tei that has been converted into a student dormitory. The property was formerly the Silka Seaview Hotel, and its guest rooms have been undergoing conversion into student accommodation units, with full conversion expected to be completed in the second half of this year.