NEW WORLD DEV : Company Assets Receive Approaches from Potential Buyers from Time to Time
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NEW WORLD DEVclarified media reports regarding potential sales of Hong Kong hotel assets. While the company has received approaches from potential buyers, no discloseable agreements have been made. Reports suggest negotiations are ongoing to sell a 50% stake in three Hong Kong hotel assets valued at approximately USD2 billion, with Aravest, a Singapore-based real estate asset manager, as the potential buyer.
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