New World Development opened the Pentahotel Hong Kong in east Kowloon in 2013. Photo: Google
New World Development opened the Pentahotel Hong Kong in east Kowloon in 2013. Photo: Google

New World Development sells Pentahotel in Hong Kong for US$257 million as it disposes of non-core assets to reduce debt

  • Local developer Wang On Properties teams up with New York-based Angelo, Gordon & Co to take over the 695-room hotel in east Kowloon
  • New World aims to unload US$1.28 billion worth of non-core assets during the financial year ending September 2023

New World Development opened the Pentahotel Hong Kong in east Kowloon in 2013. Photo: Google
New World Development opened the Pentahotel Hong Kong in east Kowloon in 2013. Photo: Google
READ FULL ARTICLE