Dash Living and PGIM Real Estate expand existing partnership with acquisition of Hong Kong hotel
Dash Living, an Asia Pacific–based serviced living community, and PGIM Real Estate have formed a second joint venture and completed an acquisition of The Sheung Wan by Ovolo, a modern 56-key hotel in the bustling downtown Sheung Wan district of Hong Kong.
This new addition has bolstered the joint venture's portfolio within a three-minute walking radius to a total of more than 200 rooms in Hong Kong's premier central business district, thus creating operational synergies to drive investor returns. The Sheung Wan by Ovolo was previously co-managed by Ovolo and Dash Living since March 2021.
The property will soon be converted to Dash Living on Queen's, as an expansion of the recently launched co-living apartments Dash Living on Hollywood, which is a three-minute walk away. Located among well-known restaurants, bars, cafes and art galleries like the PMQ creative hub, along with city heritage sites such as the Man Mo Temple, this central location draws in young urban prof