New World Development Considers Sale of Its Stake in $2 Billion Hong Kong Hotel Portfolio
New World Development is exploring the sale of its 50% stake in a group of three high-value hotels in Hong Kong, valued at around $2 billion. The company has entered discussions with Aravest, an asset manager backed by Sumitomo Mitsui Finance & Leasing. If successful, New World could receive approximately $300 million after settling debt.
