Interview with Josephine Kong on RTHK’s “Freedom Wind · Freedom Phone” Program
2025-06-26
Josephine Kong, Chief Investment Officer at Centaline Investment, was interviewed on RTHK Radio 1’s program “Freedom Wind · Freedom Phone,” on June 26th, where she shared insights on the market’s response to the government’s upcoming pilot scheme to convert commercial buildings into student hostels.
During the program, Kong highlighted that the market’s overall attitude towards this policy is positive and proactive. She revealed that her company has been investing in student hostels since 2018, initially focusing on the US and UK markets before expanding back to Hong Kong in recent years. Kong explained that the government’s relaxation of renovation approval procedures greatly shortens the approval time, helping to accelerate supply. However, the overall renovation process still takes time, so a significant increase in new hostel supply is unlikely in the short term. The impact is expected to become visible over the next one to two academic years.
She also analyzed challenges in converting commercial buildings into student hostels, such as whether property owners are willing to invest in renovations and how to address issues like fragmented ownership and varied building layouts. Kong shared that her company is currently renovating a hotel in Tsim Sha Tsui into a student hostel and pointed out that student hostels generally offer more stable rental income compared to the hotel business, making them attractive to investors seeking steady cash flow.
Overall, Kong is optimistic about Hong Kong’s development as an international higher education hub. She believes that increasing the supply of student hostels will not only alleviate housing pressure but also stimulate related industries and stabilize the property market, representing a significant opportunity in Hong Kong’s economic transformation.
Thank you to RTHK’s “Freedom Wind · Freedom Phone” for inviting Kong to share her valuable insights. We look forward to new breakthroughs in Hong Kong’s student hostel market. o learn more details, you are welcome to listen to the episode here (in Cantonese).