New World Development
New World Development Co (HK stock code 0017) is a Hong Kong conglomerate with operations in property, infrastructure, transport, retailing telecommunications and bus and ferry operations.It is controlled by Chow Tai Food, a holding company owned by businessman Cheng Yu-tung.
The government has conditionally approved a controversial development project along the Tsim Sha Tsui waterfront that will see three new buildings built along the Avenue of Stars and limit access to the popular walkway for as many as three years.
New World China Land has agreed to sell its hotel management business to parent, Chow Tai Fook Enterprises, for HK$1.96 billion in a move to focus resources on property development and investment on the mainland.3 Jul 2015 - 9:01pm
New World Development (NWD) is selling three of its luxury hotels for HK$18.5 billion into a joint venture with the Abu Dhabi Investment Authority (ADIA) in the biggest hotel deal in Asia in a decade.7 May 2015 - 5:06pm 1 comment
Can the Cheng family behind New World Development, a conglomerate with interests in property, hotels, infrastructure and department stores, prove the Chinese proverb wrong and make its wealth last three generations?7 May 2015 - 5:06pm
New World Development has named Adrian Cheng Chi-kong, the son of chairman Henry Cheng Kar-shun as executive vice-chairman, in a move setting up a gradual transfer of control of the business empire to the next generation.
The new appointment will become effective on April 1.7 May 2015 - 5:06pm 2 comments
New World Development is optimistic on the outlook of the Hong Kong property market, after posting a modest 5 per cent gain in underlying profit to HK$4.41 billion for the six months to December.7 May 2015 - 5:06pm
The MTR Corp yesterday awarded the property project at its Tai Wai station in a desperate deal that will allow the winning bidder, New World Development, to cut the initial investment to nearly a quarter.7 May 2015 - 5:06pm
Encouraged by strong sales, Henderson Land and New World Development will offer a third batch of flats today at their jointly developed Double Cove Starview Prime residential project in Ma On Shan.7 May 2015 - 5:06pm 3 comments
Two luxury residential projects released for sale yesterday met with very different responses, with the cheaper of the two, The Pavilia Hill in North Point, generating more interest than the Arezzo in Mid-Levels West.7 May 2015 - 5:06pm
Strong sales in the primary market last weekend are expected to prompt more developers to maintain the pace on launch schedules, as the impact of street protests in the city eases.7 May 2015 - 5:06pm
Homebuyers snapped up more than 90 per cent of the new flats released to the market on Saturday, unfazed by strife on the streets.7 May 2015 - 5:06pm 6 comments
New World Development kept a conservative target for contracted sales in the fiscal year to June 2015, even though its contracted sales hit a record in the previous financial year.7 May 2015 - 5:06pm
New World China Land said it cut its sales target for the current financial year by 15 per cent given the downturn in the sector as it reported net profit last year rose marginally, although it came in slightly above market expectations.7 May 2015 - 5:06pm
Shareholders of New World China Land yesterday rejected New World Development's HK$18.6 billion proposal to take the company private, effectively throwing the parent firm's future plans into doubt.7 May 2015 - 5:06pm
New World Development, the city's fifth-largest developer by market value, yesterday announced it would make an HK$18.6 billion rights issue to take its mainland property arm New World China Land private.
The developer launched an offer to buy back shares of New World China it does not own at HK$6.80 each, a 32.3 per cent premium to the stock's close of HK$5.14 on March 10.7 May 2015 - 5:06pm