New World Development is reportedly in talks with Blackstone and Kerry Group to sell assets.

According to informed sources, New World Development Company is currently in talks with several potential investors, including Blackstone Inc. and Keppel Corporation. This cash-strapped Hong Kong developer is seeking to dispose of assets to improve liquidity. Sources said Blackstone is in talks to acquire some of New World Development's assets. They said the world's largest alternative asset management company may consider privatizing New World Development, but has not yet put forward a specific proposal. Sources said Singapore real estate company Keppel Corporation has also had exploratory discussions with New World Development in recent weeks.