Hong Kong universities snap up office and retail sites amid classroom crunch

Hong Kong universities are acquiring office and retail spaces to address a shortage of classroom facilities, driven by an increase in non-local student enrollment. Over the past three years, at least six universities have relocated teaching operations into these commercial properties. Notably, the Hong Kong University of Science and Technology (HKUST) purchased a 31,410 sq ft campus in Admiralty for HK$345.4 million (US$44 million) to house its business school teaching center. This new center was unveiled on Tuesday within the United Centre, a location previously occupied by the Metropol Restaurant. The trend highlights a strategic response by educational institutions to accommodate growing student populations.