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Wire: NWD In Talks to Sell 50% Stake in Hyatt Regency Hotel in TST
2026-09-22 12:05:04 NEW WORLD DEV (00017.HK) is in talks with Singapore's UOL Group Ltd. regarding the sale of a 50% stake in the Hyatt Regency hotel in Tsim Sha Tsui, Bloomberg, citing sources, reported. The potential deal values the hotel at around HKD3 billion. Abu Dhabi Investment Authority (ADIA), which owns the remaining half stake in the hotel, is reportedly also negotiating to sell its holding to UOL Group. The Hyatt Regency hotel is part of the hotel portfolio that NEW WORLD DEV had previously considered selling as a whole. The company had reportedly held talks with Singapore-based Aravest on the sale of a 50% stake in a portfolio of three Hong Kong hotels, valued at around USD2 billion. The portfolio included the Hyatt Regency alongside the Grand Hyatt and the Renaissance Harbor View Hotel. NEW WORLD DEV closed at HKD5.91 at midday, up 0.68%, with turnover of 1.8051 million shares involving HKD10.5917 million. ~ AASTOCKS Financial News Website: www.aastocks.com | |