Adya and New World aim to sell Life Regency in Cologne
New World Development Company and Abu Dhabi Investment Authority (ADIA) are in negotiations to sell their stake in the Hyatt Regency Hotel in Kowloon, Hong Kong, to the Singaporean UOL Group for approximately $382 million. Each owns a 50% share of the hotel. The deal aims to boost liquidity and strengthen their financial position following a downturn in the regional real estate market. This move is part of New World's efforts to sell a hotel portfolio that also includes the Grand Hyatt and Renaissance Harbour View, which they had previously considered selling for around two billion dollars.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)