A venture backed by the Gulf state is to snap up a clutch of Hong Kong's top hotels in a deal with conglomerate New World Development for HK$18.5bn, one of the biggest hotels deals to have taken place in Asia.
On Thursday NWD said it and its subsidiaries had struck a deal with a subsidiary of the Abu Dhabi Investment Authority to form a joint venture under which they will co-own the Grand Hyatt Hong Kong, Renaissance Harbour View and Hyatt Regency TST with the Middle Eastern sovereign wealth fund...............................................Full Article: Source
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