JD.com Acquires Hong Kong Hotel Property for HK$750 Million, Converting to Student Dormitory by Year-End

According to an announcement from Far East Development on July 6, JD.com, through its subsidiary JD Fabulous Development XI Limited, acquired 100% equity of Charter Joy Limited for HK$750 million. The target asset is a hotel property in Kowloon, Hong Kong, currently being converted into student accommodation with completion expected in the second half of 2026. Far East Development will continue operating the project for three years, providing an annual guaranteed rental income of HK$45 million.
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