HONG KONG – Property firm New World Development is in talks to sell its 50 per cent stake in a Hong Kong hotel to Singapore’s UOL Group, according to people familiar with the matter.
The potential transaction would value the Hyatt Regency hotel in Kowloon at around HK$3 billion (S$487.71 million), the people said, asking not to be identified because the talks are confidential. Abu Dhabi Investment Authority (ADIA), which owns the other half of the hotel, is also in discussions to sell its stake to UOL, the people added.
The move marks New World’s latest push to bolster liquidity as the heavily indebted developer seeks a comprehensive fix to its balance sheet. The company was left saddled with debt following a years-long property slowdown in mainland China and Hong Kong, and has previously explored options including an investment from Blackstone – a deal which ultimately stalled earlier in 2026.
UOL and ADIA declined to comment. New World did not immediately respond to a request for comment. The terms of the deal are subject to change and the transaction may ultimately not be finalised.
The Hyatt Regency hotel is part of a broader portfolio New World was previously considering selling as one. The company held talks with Singapore-based Aravest to sell its 50 per cent stake in a portfolio of three Hong Kong hotels valued at around US$2 billion (S$2.55 billion), Bloomberg reported in May. The portfolio included the Hyatt Regency alongside the Grand Hyatt and the Renaissance Harbour View Hotel.
New World is taking other steps to raise cash. The company recently secured approval to list a real estate investment trust in mainland China, which it projects will generate 3.24 billion yuan (S$617 million) in net proceeds that it can use for debt repayment and general corporate purposes.
New World’s stock price has fallen around 19 per cent in 2026, badly underperforming the wider market. It will report results on Sept 30, covering the financial year ended June 30. BLOOMBERG
