HK-based New World weighs sale of majority stake in $1.4b premium office tower

HK-based New World weighs sale of majority stake in $1.4b premium office tower

A general view of developer New World Development's office tower, K11 Atelier King's Road, in North Point of Hong Kong, China February 2, 2023. REUTERS/Clare Jim

Hong Kong’s New World Development is talking to investors about the sale of a majority stake in an office tower under its premium K11 brand as it disposes of non-core assets to fund its rapid expansion, two people with direct knowledge of the matter said.