Market Chatter: Ares Management, New World Development Slash Hong Kong Office Tower's Unit Prices Amid Challenging Market

MT Newswires Live06-29

Ares Management (ARES) and New World Development slashed unit prices at the 83 Wing Hong Street office and retail tower that they co-own in Hong Kong amid a challenging commercial property market, Bloomberg reported Monday, citing sources familiar with the matter.

The partners have cut asking prices by about 57% from levels in 2024, when the project was launched, sources told the news outlet.

Ares Management and New World Development did not immediately respond to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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