New World Development (HKG:0017) is looking to sell its flagship 11 Skies airport mall in Hong Kong to alleviate liquidity constraints, Bloomberg News reported Wednesday, citing people familiar with the matter.
The company has held preliminary discussions with the Airport Authority of Hong Kong regarding the plan, the report said.
The asset is being valued at between HK$15 billion and HK$17 billion, compared to New World's HK$20 billion investment in the project, according to the report.
Bloomberg also reported that New World missed its target to complete a $2 billion loan deal earlier this week.
Separately, in Shanghai, the company is seeking to raise 2.85 billion yuan from the sale of its K11 tower, according to a property agent brochure reviewed by Bloomberg.
Discussions on the 11 Skies deal are said to be in early stages and may be subject to change.
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