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New World Development

The poor weekend home sales of Pavilia Forest II appear to cloud the outlook for the city’s property sector. Photo: Dickson Lee

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

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

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.

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Illustration: Craig Stephens

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.

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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.

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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.

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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.

Adrian Cheng Chi-kong, chief executive officer and executive vice chairman of New World Development, during the Hong Kong Fintech Week on October 31, 2022. Photo: Bloomberg

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.

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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.

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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.

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Buyers snap up new flats in Kowloon Bay project as curb-free market rebounds

Some 238 of the 336 units available in the first batch at Uptown East in Kowloon Bay, worth about US$179 million, found buyers as of 6pm on Sunday, in a sign that the removal of all market-cooling measures has revived demand in Hong Kong.

Buyers line up inside the Tsuen Wan sales office of the Uptown East residential project in Kowloon Bay on March 17, 2024. Photo: May Tse

SHKP in pole position to benefit from Hong Kong’s property easing measures

Hong Kong’s largest developer by market capitalisation is being tipped by analysts to emerge as the ‘prime beneficiary’ of the city’s removal of all property cooling measures.

Residential housing in Hong Kong’s Yau Tong, as seen from the city’s Quarry Bay district. SHKP is controlled by the Kwok family and is widely regarded as a ‘proxy’ for the Hong Kong property sector, according to DBS Group Research. Photo: May Tse

New World sells Hong Kong mall in Tsuen Wan to Chinachem for US$510 million

New World Development has agreed to sell its shopping centre and parking spaces in Tsuen Wan to Chinachem Group for US$510 million, speeding up asset sales to trim its financing costs.

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NWD to tap improved sentiment by bringing property launches forward

NWD plans to launch 2,500 units ahead of schedule to capture the improved sentiment unleashed by the withdrawal of all property curbs in Hong Kong after posting a profit decline for the six months ending on December 31.

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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
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