FOREIGN ‘Investment’ Companies like these are operating in a space that seeks to gain ownership dressed up as ‘investing’… the customers for these purpose built student accommodation are with little doubt from the same origins … so profits are designed to leave our shores along with the Title Deeds!
HOW do they do this? By setting up a business trust in Australia to acquire property …
These developers are long term planners … they are looking for ownership over a long period of time in Australia.
An opportunity to accommodate their students in a closed environment where they control it!
Our universities had a proposal to begin flying in small groups of international students from July … 300 were set to fly to Canberra to be quarantined in hotels. The ACT along with South Australia planned to get this off the ground with other states to follow ….
HOWEVER with the current outbreaks of COVID-19, it would seem that those pushing this are those that have the most to lose in their business model based on fee paying foreign students
It is a worry, just goes to show what depths these Edu-entrepreneurs will go to … to have tax payers subsidise foreign students even though they say the student pays, every other cent spent by the University is ultimately sourced from the public purse.
And this from the Urban Developer in 2018!
Singapore-listed developer Wee Hur Holdings has moved one step closer to realising its Australian student accommodation ambitions, appointing Intergen Property Group to manage a $700 million Purpose Built Student Accommodation fund.