New World Development Co. and Ares Management Corp. cut unit prices by as much as 57% at an office-tower project in Hong Kong, highlighting stress in parts of the city’s commercial property market, according to Bloomberg.
The project is part of a commercial complex in an industrial neighborhood and has become a flashpoint for a sector facing pockets of weakness even as the broader real estate market rebounds.
New World, Ares Cut Hong Kong Office Tower Unit Prices Up to 57%
2026-06-29 02:51:00
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