Huationg expects the dorm to commence operations by first half of 2029.
The company plans to fund this project via a combination of internal resources and bank borrowings.
"The proposed acquisition and proposed development would positively contribute to the business of the group," says Huationg in its May 7 announcement.
Huationg Global shares closed at 87 cents on May 7, up 1.16% for the day, extending its year to date gain of 64.15%.
