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Abu Dhabi SWF in HK$18.5b Hong Kong hotels deal

It forms 50-50 joint venture with New World to pursue acquisitions in the hospitality industry

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Abu Dhabi Investment Authority (ADIA) has agreed to buy a 50 per cent stake in three Hong Kong hotels from a group led by New World Development Co Ltd in a HK$18.5 billion (S$3.15 billion) deal, the sovereign wealth fund's biggest Asian property investment.

Hong Kong

ABU Dhabi Investment Authority (ADIA) has agreed to buy a 50 per cent stake in three Hong Kong hotels from a group led by New World Development Co Ltd in a HK$18.5 billion (S$3.15 billion) deal, the sovereign wealth fund's biggest Asian property investment.

Under the deal