The funding will be used to construct a 273-bed student accommodation project in Glasgow, Scotland.
Far East Orchard has launched the FE UK Student Accommodation Development Fund (FESAD), its first private fund in Singapore.
The fund has achieved its first close of $120.6m (£70m), with a target of aggregate commitment of $172.3m (£100m).
Far East Orchard's unit, Far East Orchard Investments (FEOI), has committed $60.3m (£35m) of the $120.13m (£70m) committed by limited partners.
The fund is currently seeded with a development site in Glasgow, Scotland, which the group acquired in March. A 273-bed student accommodation project will be constructed on this site.
FESAD will invest in Purpose-Built Student Accommodation (PBSA) development opportunities within the United Kingdom (UK). As of H1 2024, the company's UK PBSA portfolio had reservations of around 92% for the academic year commencing September 2024 (AY24/25).
