TOPIC
 / company

New World Development

A view of New World Tower in Central on September 26, 2024. Photo: Jelly Tse

New World Development ejected from Hang Seng Index

Quarterly review adds video platform Kuaishou Technology and New Oriental Education & Technology to the Hong Kong benchmark.

Cautious bids expected for second try at Hong Kong land sale

Could Hong Kong property tycoons’ backing lead to revival of IPOs?

Hong Kong worker killed by falling cage lift at residential project site

Preliminary investigations show machine malfunction caused cage to fall and hit man at Pavilia Farm III development.

Pavilia Farm in Tai Wai. Photo: Google Maps

Hong Kong homebuyers give the cold shoulder to New World-led Pavilia Forest II

Pavilia Forest II recorded only one sale as of 5pm on Saturday, while Double Coast I found buyers for 20 units out of 58 flats on offer.

Hong Kong developers launch mainland homes to catch hot demand

Companies experienced a surge in showroom visits during China’s ‘golden week’ holiday earlier this month.

videocam
Advertisement
Advertisement

Ambitious NWD growth plans under Adrian Cheng leave company with a big debt load

The litany of projects that Cheng oversaw as CEO of New World made the company one of the city’s most indebted property developers.

Adrian Cheng Chi-Kong in September. Photo: Eugene Lee

Opinion | Hong Kong cannot afford to lose its entrepreneurial spirit

We owe it to ourselves and our city to think big, take risks and hold ourselves to a higher standard – and take our hats off to those who do.

videocam

New World Development shares jump after replacement of CEO Adrian Cheng

Shares of New World Development surged after resuming trading following the replacement of its CEO, as the property developer seeks a revamp.

Hong Kong’s New World taps outsider for turnaround after record loss

Adrian Cheng Chi-kong stepped down as New World’s CEO, handing over to Eric Ma Siu-cheung the job that he had held for four years.

9
Eric Ma Siu-cheung, Chief Executive Officer of NWS Holdings, during the company’s 2019 interim results press conference at the Hong Kong Convention and Exhibition Centre in Wan Chai on 26 February 2019. Photo: Edmond So.

Shares of New World Development, retail unit suspended from Hong Kong trading

New World Development and another listed unit were suspended from trading following a report about the company’s future leadership.

New World Development’s Adrian Cheng Chi-kong. Photo: SCMP/Edmond So

New World COO Eric Ma likely to replace Adrian Cheng as CEO, sources say

Cheng, born in 1979, will become the non-executive vice-chairman of New World, giving up his title of chief executive officer, sources say.

10

NWD to post US$2.4 billion loss in past financial year amid property sector woes

A non-cash impairment loss of up to HK$9.5 billion will not have any impact on its core operating profit or operating cash flow, NWD said.

Chow Tai Fook Enterprises appoints 3 co-CEOs to lead growth

Christopher Cheng, one of the three newly named co-CEOs, is a son of the Cheng family patriarch and billionaire Henry Cheng Kar-shun.

CTFE is part of the group of companies founded under the Chow Tai Fook name in 1929. Photo: Shutterstock

NWD makes progress on cutting debt with repayments, refinancing

The group has received a bid of HK$9 billion for its K11 Art Mall in Tsim Sha Tsui from a subsidiary of China Resources Holdings, according to a local media report.

Hong Kong-listed New World Development said it had completed more than HK$16 billion of loan arrangements and debt repayments in July and August. Photo: Shutterstock

Prada to open huge outlet in Hong Kong’s K11 Musea after years of downsizing

The two-storey outlet in New World’s harbourfront luxury mall will be the Italian brand’s first in Hong Kong since it closed its flagship store in Causeway Bay in 2020.

Exclusive | Affordable homes will give Hong Kong youth chance to soar, housing chief says

Housing secretary says boost in home ownership through increased number of affordable flats will be a significant incentive for the young.

videocam
Advertisement
Advertisement

Hong Kong developers keep pricing flats to move amid supply glut

New price lists from New World Development, Far East Consortium and Early Light International undercut recent nearby sales by up to a third amid buyer’s market – for those who can stomach the interest rates.

An artist’s impression of the The Uppland, a development in Tuen Mun, Hong Kong, by Early Light International. Photo: Handout

New World’s scion Adrian Cheng lists C Capital on Swiss exchange

Cheng will sell his unit C Capital to Youngtimers, a special situation investment firm that has been listed since 2000 on the SIX exchange.

Hong Kong’s New World, Far East primed for sell-out at Pavilia Forest I amid strong demand

This weekend’s sale show how the city’s property developers continue to cough up significant discounts to entice homebuyers.

Hong Kong developers slash Kai Tak flat prices to 8-year low to drum up sales

Hong Kong’s recent property launches have been discounted by as much as 10 per cent, compared with similar projects in 2015, according to data tracked by JLL.

4
Undated photograph of the Pavilia Forest I project under construction in Hong Kong’s Kai Tak district. Photo: Google map

New World sells Qianhai tower stake to its parent for US$198 million

The conglomerate sold a 30 per cent stake in the North tower of the Shenzhen Qianhai Chow Tai Fook Finance Centre to parent Chow Tai Fook Enterprises.

A rendering image of the North tower of the Shenzhen Qianhai Chow Tai Fook Finance Centre. New World Development sold a stake for HK$1.5 billion. Photo: SCMP

New World touts US$4.5 bn in loans, debt payments as proof of health

Company says it has secured multiple low-cost new loans to replenish its liquidity and increase the proportion of yuan loans as it seeks to control financing costs.

videocam

Exclusive | New World and China Merchants Shekou to develop Northern Metropolis project

The mixed-use project, close to Fanling and Sheung Shui, will include a residential component with some 2,000 flats. It will cover 150,000 sq ft and will have a total buildable floor area of over 1 million sq ft.

New World Development puts 18 units up for sale at Cheung Sha Wan office tower

The first 18 office units have been priced from HK$7.2 million to HK$22.7 million, or around HK$12,000 to HK$14,000 per square foot, NWD said in a statement on Thursday.

An artist’s impression of New World Development’s new office building in Cheung Sha Wan. Photo: Handout

Sonia Cheng on mission to transform Hong Kong’s Chow Tai Fook jewellery chain

Jewellery chain Chow Tai Fook promises more technology-led shopping because ‘that’s what younger customers want’.

Chow Tai Fook Jewellery Group’s vice-chairwoman and executive director, Sonia Cheng, is on a mission to revamp the chain to prepare it for its second century in business. Photo: May Tse

Wealth for Good: Hong Kong launches project linking charities with donors

‘Impact Link’, or iLink, underscores Hong Kong’s determination to harness its strengths and resources to drive positive change and to assist family offices in using ‘wealth for good’, Financial Secretary Paul Chan says.

Hong Kong property: Henderson’s Gateway Square Mile sees modest sales

New home sales in Hong Kong stuttered slightly on Friday, with buyers giving a lukewarm response to Henderson Land Development’s latest project in Tai Kok Tsui.

videocam
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
New World Development
New World Development is a Hong Kong conglomerate that deals in property, infrastructure, transport and telecommunications. It is owned by Chow Tai Fook, a holding company led by businessman Cheng Yu-tung.
Chairman / President
Henry Cheng Kar-shun
CEO / Managing Director
Adrian Cheng Chi-kong
CFO / Finance Director
Edward Lau
Industry
Real property
Website
nwd.com.hk
Headquarters address
30/F, New World Tower, 16-18 Queen's Road Central, Hong Kong
Stock Code
SEHK:0017
OTC Pink:NDVLY
Year founded
1970
last updated:
30 September, 2024
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement