https://www.scmp.com/rss/32666/feed 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. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cheryl Arcibal Cheryl Arcibal Hong Kong’s New World Development (NWD) has shelved plans to acquire the remaining stakes in three commercial sites in Causeway Bay, signalling continued caution among developers despite signs of improving demand in the core office market. The company, which has been selling assets to reduce debt, said it would “exercise prudence as appropriate, having regard to cost and efficiency, as well as overall market supply and demand, with a view to delivering reasonable returns”. NWD, which reported... https://www.scmp.com/business/article/3348834/new-world-pulls-back-causeway-bay-acquisition-amid-uneven-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3348834/new-world-pulls-back-causeway-bay-acquisition-amid-uneven-recovery?utm_source=rss_feed Thu, 02 Apr 2026 11:34:41 +0000 Wynna Wong Wynna Wong More than 60 new brands, mostly luxury labels, will move into K11 Musea as part of a revamp to boost the shopping centre’s offerings, but an analyst has warned of a complicated external environment weighing on the retail sector’s prospects. These brands are set to join the Tsim Sha Tsui mall in a tenant overhaul covering about 30 per cent of its retail space, with operators expecting rents for the revamped stores to rise by double digits. New or expanded flagship stores include Audemars Piguet,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3347486/luxury-brands-bet-growth-well-heeled-tourists-flock-hong-kong-events?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3347486/luxury-brands-bet-growth-well-heeled-tourists-flock-hong-kong-events?utm_source=rss_feed Mon, 23 Mar 2026 02:30:13 +0000 Cheryl Arcibal Cheryl Arcibal Hongkonger Katie Chan was hoping to buy a flat to live in, and although the 37-year-old accountant was in no rush, the potential longer pause in interest rate cuts could delay her decision. For Chan, the ideal mortgage would be if the one-month Hong Kong interbank offered rate (Hibor) fell below 1.95 per cent, but this year the key driver for local mortgage costs and corporate borrowing rates had only dropped to as low as 2.02 per cent, according to data tracked by the Hong Kong Association of... https://www.scmp.com/business/article/3347469/potential-rate-cut-pause-geopolitical-tensions-may-cloud-hong-kong-property-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3347469/potential-rate-cut-pause-geopolitical-tensions-may-cloud-hong-kong-property-recovery?utm_source=rss_feed Sun, 22 Mar 2026 23:30:16 +0000 Themis Qi Themis Qi Adrian Cheng Chi-kong, former heir apparent to Hong Kong property giant New World Development (NWD), plans to spend more time in mainland China and increase his tech investments this year, with a focus on a range of sectors from artificial intelligence to aerospace, echoing China’s latest five-year plan. “If our country can realise [the 15th five-year plan], we would be stable and secure, and our future will definitely be promising,” Cheng, who is a member of the Chinese People’s Political... https://www.scmp.com/business/money/markets-investing/article/3345918/hong-kong-tycoon-adrian-cheng-doubles-down-tech-step-chinas-5-year-plan?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3345918/hong-kong-tycoon-adrian-cheng-doubles-down-tech-step-chinas-5-year-plan?utm_source=rss_feed Mon, 09 Mar 2026 06:12:38 +0000 Peggy Ye Peggy Ye Developers in Hong Kong are testing the housing market’s recovery by nudging prices up or paring discounts as improving sentiment and a rebound in transactions boost confidence in the city’s property sector. But analysts said the moves remained uneven, with many newly launched projects still offering sizeable concessions as developers continued to prioritise clearing unsold inventory accumulated during the market downturn. New World Development plans to cut the discount offered under the 120-day... https://www.scmp.com/business/markets/article/3345774/hong-kong-developers-test-home-market-recovery-raising-prices-trimming-discounts?utm_source=rss_feed https://www.scmp.com/business/markets/article/3345774/hong-kong-developers-test-home-market-recovery-raising-prices-trimming-discounts?utm_source=rss_feed Mon, 09 Mar 2026 01:30:11 +0000 Peggy Sito Peggy Sito The recovery in Hong Kong’s property market has begun attracting overseas investors back to the sector, with the Hang Seng Properties Index rising more than 20 per cent this year. International investors, who have had limited exposure to Hong Kong property stocks over the past two to three years, had begun revisiting the sector and adding positions since the start of 2026, according to Citi. At a recent global investor conference hosted by the US bank, participants said they were showing greater... https://www.scmp.com/business/companies/article/3345537/global-investors-revisit-hong-kong-property-stocks-housing-market-recovery-gathers-pace?utm_source=rss_feed https://www.scmp.com/business/companies/article/3345537/global-investors-revisit-hong-kong-property-stocks-housing-market-recovery-gathers-pace?utm_source=rss_feed Thu, 05 Mar 2026 06:38:00 +0000 Matthew Cheng,Lam Ka-sing Matthew Cheng,Lam Ka-sing Hong Kong tycoons have expressed confidence in the Middle East’s economic outlook amid continued strikes by the United States and Israel on Iran and Tehran’s retaliatory attacks, stressing that the city’s economy is unlikely to be affected. Speaking to the media in Beijing on the sidelines of the “two sessions” – the nation’s annual parliamentary meetings – on Wednesday, Adrian Cheng Chi-kong, former heir apparent to Hong Kong property giant New World Development, said the Middle East’s economic... https://www.scmp.com/news/hong-kong/politics/article/3345468/hong-kong-tycoons-downplay-impact-middle-east-war-citys-fortunes?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3345468/hong-kong-tycoons-downplay-impact-middle-east-war-citys-fortunes?utm_source=rss_feed Wed, 04 Mar 2026 14:11:22 +0000 Peggy Ye,Aileen Chuang Peggy Ye,Aileen Chuang New World Development posted a net loss of HK$3.73 billion (US$477 million) for the first half of fiscal 2026, as asset write-downs continued to weigh on earnings despite improving Hong Kong home sales and ongoing deleveraging efforts. The loss narrowed 44 per cent year on year for the six months ended December 31, as impairments on investment properties eased and financing and tax expenses related to mainland projects declined, according to a Hong Kong stock exchange filing on Friday. No... https://www.scmp.com/business/article/3344882/new-world-reports-first-half-loss-deleveraging-takes-priority-dividend-suspended?utm_source=rss_feed https://www.scmp.com/business/article/3344882/new-world-reports-first-half-loss-deleveraging-takes-priority-dividend-suspended?utm_source=rss_feed Fri, 27 Feb 2026 09:34:57 +0000 Oscar Liu Oscar Liu Hong Kong’s finance chief has set aside HK$30 billion (US$3.8 billion) to kick-start the Northern Metropolis in his latest budget, aiming to accelerate the megaproject through the government’s partnership with developers and tech enterprises. Financial Secretary Paul Chan Mo-po announced on Wednesday that three companies overseeing the Hetao Hong Kong Park, the San Tin Technopole and the Hung Shui Kiu Industrial Park, all part of the megaproject, would each receive HK$10 billion, using... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344632/paul-chans-new-budget-sets-aside-hk30-billion-kick-start-northern-metropolis?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344632/paul-chans-new-budget-sets-aside-hk30-billion-kick-start-northern-metropolis?utm_source=rss_feed Wed, 25 Feb 2026 11:45:57 +0000 Ambrose Li Ambrose Li Hong Kong airport’s second terminal will fully open on May 27, authorities have announced, with the redeveloped facility set to serve as the base for 15 airlines. The terminal, which will mostly handle regional flights, is part of the airport’s HK$141.5 billion (US$18.1 billion) expansion project launched in 2016 that also included a third runway. Its coach hall opened in September. Fred Lam Tin-fuk, chairman of the Airport Authority, said on Tuesday that the first terminal, used mainly for... https://www.scmp.com/news/hong-kong/transport/article/3343786/hong-kong-airports-second-terminal-fully-open-serve-15-airlines-may-27?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3343786/hong-kong-airports-second-terminal-fully-open-serve-15-airlines-may-27?utm_source=rss_feed Tue, 17 Feb 2026 03:31:30 +0000 Cheryl Arcibal Cheryl Arcibal Tycoon Li Ka-shing has added more than US$6 billion to his net worth, boosting his standing as Hong Kong’s richest individual and contributing to a US$65 billion increase in the assets of the city’s 50 richest people, according to Forbes. Li, whose business interests span real estate, infrastructure and pharmaceuticals via companies such as CK Asset Holdings and CK Hutchison, had a net worth of US$45.1 billion this year, up from US$38.9 billion in 2025, according to a list compiled by the... https://www.scmp.com/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343353/superman-li-ka-shing-tops-hong-kongs-billionaire-list-us451-billion-forbes?utm_source=rss_feed Thu, 12 Feb 2026 11:52:11 +0000 Yulu Ao Yulu Ao Hong Kong stocks retreated on Friday, ending a seven-day rally, as investors locked in profits on the final trading day in January after a sharp month-long surge. Investors were also cautious ahead of an announcement on the US Federal Reserve’s next chair. The Hang Seng Index fell 2.1 per cent to 27,387.11 at the close, pulling back from a multi-year high on Thursday. The benchmark climbed 6.8 per cent this month, its strongest performance since September 2025, when it finished 7.1 per cent... https://www.scmp.com/business/china-business/article/3341753/hong-kong-stocks-end-7-day-rally-investors-resort-profit-taking?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341753/hong-kong-stocks-end-7-day-rally-investors-resort-profit-taking?utm_source=rss_feed Fri, 30 Jan 2026 02:18:48 +0000 Cao Li,Cheryl Arcibal Cao Li,Cheryl Arcibal The potential sale of a stake in New World Development (NWD) to new investors will help the embattled Hong Kong-listed developer improve its balance sheet and liquidity, benefiting creditors and shareholders alike, according to analysts. It was reported earlier that New York-based private equity giant Blackstone was interested in investing in NWD, which could take the form of “shareholder loans or direct equity financing, as well as offloading noncore investment properties”, said Jeff Zhang, an... https://www.scmp.com/business/article/3341740/nwd-says-parent-approached-investors-after-report-links-blackstone-stake-sale?utm_source=rss_feed https://www.scmp.com/business/article/3341740/nwd-says-parent-approached-investors-after-report-links-blackstone-stake-sale?utm_source=rss_feed Thu, 29 Jan 2026 16:24:38 +0000 Denise Tsang Denise Tsang When Kevin Ng Shu-keung inspected the mock-up of a curved glass panel in 2019 to be mass-produced for the facade of The Henderson, a grade A commercial tower in Hong Kong, he was shocked to discover its flaws. The geometrically complex glass panels had never been used in Hong Kong before and his team had to put them through rounds of tests and trials at a residential construction site in Sham Shui Po, said Ng, senior deputy general manager of project management at property giant Henderson... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3341155/henderson-among-3-buildings-hong-kong-win-major-design-awards?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3341155/henderson-among-3-buildings-hong-kong-win-major-design-awards?utm_source=rss_feed Sun, 25 Jan 2026 07:49:39 +0000 Aileen Chuang Aileen Chuang Chow Tai Fook Enterprises (CTFE), the parent of embattled New World Development (NWD), will keep pursuing deals that create “win-win outcomes”, chairman Henry Cheng Kar-shun said as he revealed the private investment holding company’s philosophy for the first time. While all investors love to talk about mutual benefit, Cheng told the Post – in his first statement to the media in more than two years – that it was more than pretty words for CTFE. The organisation ran with the discipline of an... https://www.scmp.com/business/companies/article/3340314/chow-tai-fooks-henry-cheng-reveals-hong-kong-empires-win-win-investment-philosophy?utm_source=rss_feed https://www.scmp.com/business/companies/article/3340314/chow-tai-fooks-henry-cheng-reveals-hong-kong-empires-win-win-investment-philosophy?utm_source=rss_feed Sun, 18 Jan 2026 23:00:15 +0000 Peggy Ye Peggy Ye Morgan Stanley upgraded Hong Kong’s property sector to “attractive”, noting that an all-round improvement in the city’s economy and a policy-driven recovery will continue to push prices higher this year. The US investment bank forecast home prices to rise around 10 per cent in 2026, with further gains expected in 2027, pointing out that the ongoing rebound marks the start of a new upcycle. “We expect all three sub-segments – Hong Kong residential prices, Central office rents and retail rents –... https://www.scmp.com/business/article/3338864/morgan-stanley-lifts-hong-kong-property-attractive-rebound-extend-2027?utm_source=rss_feed https://www.scmp.com/business/article/3338864/morgan-stanley-lifts-hong-kong-property-attractive-rebound-extend-2027?utm_source=rss_feed Tue, 06 Jan 2026 09:28:15 +0000 Peggy Ye Peggy Ye Hong Kong property developers are bringing new trophy homes to market, as Wharf Holdings kicked off a tender on Friday for three mansions at its ultra-luxury Plantation Road project on The Peak. The tender marked one of the most closely watched super-luxury home offerings in 2025, following a recent string of high-value transactions that pointed to renewed confidence in the market among affluent buyers. The three mansions, with saleable areas ranging from 5,629 to 6,122 square feet, include the... https://www.scmp.com/business/companies/article/3337885/hong-kong-developers-test-demand-ultra-luxury-homes-new-launch-peak?utm_source=rss_feed https://www.scmp.com/business/companies/article/3337885/hong-kong-developers-test-demand-ultra-luxury-homes-new-launch-peak?utm_source=rss_feed Sun, 28 Dec 2025 02:00:11 +0000 Peggy Ye Peggy Ye Rosewood Hotel Group said on Friday it was pushing ahead with its global expansion, announcing new openings including its first ski resort, just days after sources said Chow Tai Fook Enterprises (CTFE), the private investment holding company of the Cheng family and the parent firm of debt-ridden New World Development (NWD), had no plans to sell the prized asset. The privately owned hotel operator said Rosewood Courchevel Le Jardin Alpin, an alpine resort in the French Alps, opened on schedule,... https://www.scmp.com/business/article/3337028/rosewood-presses-ahead-global-expansion-after-sources-say-hotel-brand-not-sale?utm_source=rss_feed https://www.scmp.com/business/article/3337028/rosewood-presses-ahead-global-expansion-after-sources-say-hotel-brand-not-sale?utm_source=rss_feed Fri, 19 Dec 2025 07:10:16 +0000 Peggy Ye Peggy Ye A top executive of a multinational logistics group has bought a luxury flat in Hong Kong’s Mid-Levels West for HK$132 million (US$16.9 million), adding to a growing list of wealthy buyers acquiring high-end homes as prices soften. Cherry Hill Investment, an entity linked to Arnold Lee, acquired the 2,772 sq ft, four-bedroom apartment at The Legacy, jointly developed by Henderson Land Development and New World Development, according to Land Registry records. The transaction was completed on... https://www.scmp.com/business/article/3336885/hong-kong-logistics-groups-ceo-buys-us17-million-home-wealthy-accumulate-assets?utm_source=rss_feed https://www.scmp.com/business/article/3336885/hong-kong-logistics-groups-ceo-buys-us17-million-home-wealthy-accumulate-assets?utm_source=rss_feed Thu, 18 Dec 2025 07:13:28 +0000 Zhu Wenqian Zhu Wenqian Shanghai’s luxury retail market is set to become increasingly competitive, fuelled by a citywide shift as prime malls embrace experiential concepts to differentiate themselves. Hong Kong developer Hang Lung Properties on Friday said that it had secured a 20-year lease for the No 1038 West Nanjing Road commercial project – formerly known as Meilong Town – in partnership with Shanghai Join Buy Group. The project would be transformed into a mixed-use complex integrating retail, hospitality and... https://www.scmp.com/business/article/3336280/hong-kong-developers-lead-evolution-shanghais-retail-scene-new-malls-concepts?utm_source=rss_feed https://www.scmp.com/business/article/3336280/hong-kong-developers-lead-evolution-shanghais-retail-scene-new-malls-concepts?utm_source=rss_feed Sun, 14 Dec 2025 03:30:14 +0000 Daniel Ren,Cheryl Arcibal,Peggy Ye Daniel Ren,Cheryl Arcibal,Peggy Ye A residential project in Yau Tong triggered buying euphoria on Saturday, with more than 70 per cent of the 150 units on offer snapped up by midafternoon amid heightened expectations for a recovery in Hong Kong’s home market next year. The flats at One Park Place, priced between HK$4.23 million (US$543,684) and HK$9.51 million, were in high demand after developers Sino Land, CSI Properties and MTR Corporation offered discounts of up to 15 per cent to lure buyers. The strong homebuying interest... https://www.scmp.com/business/companies/article/3336332/yau-tong-project-sells-out-raising-hopes-market-recovery-amid-rate-cuts-rising-demand?utm_source=rss_feed https://www.scmp.com/business/companies/article/3336332/yau-tong-project-sells-out-raising-hopes-market-recovery-amid-rate-cuts-rising-demand?utm_source=rss_feed Sat, 13 Dec 2025 10:16:11 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong-based Chow Tai Fook Enterprises (CTFE), the private investment holding company of the Cheng family and the parent firm of debt-ridden New World Development (NWD), has no plans to sell its prized Rosewood brand, according to sources familiar with the matter. “Rosewood has delivered exceptional results in recent years and is one of the family’s most cherished luxury hotel brands,” a source said. The group’s properties were operating as usual, with strategic investments in nearly 30... https://www.scmp.com/business/article/3336121/rosewood-hotel-brand-hong-kongs-chow-tai-fook-not-sale-sources-say?utm_source=rss_feed https://www.scmp.com/business/article/3336121/rosewood-hotel-brand-hong-kongs-chow-tai-fook-not-sale-sources-say?utm_source=rss_feed Fri, 12 Dec 2025 01:41:35 +0000 Cheryl Arcibal Cheryl Arcibal Chow Tai Fook Enterprises (CTFE), the parent company of embattled Hong Kong developer New World Development (NWD), is selling Australian utility Alinta Energy to a Singapore-based group for A$6.5 billion (US$4.3 billion). Sembcorp Industries will acquire 100 per cent ownership of Alinta and its units, as well as Latrobe Valley Power (LVP) and its subsidiaries, from Pioneer Sail Holdings, which is owned by CTFE and Pioneer Sail Singapore, according to Sembcorp’s filing with the Singapore stock... https://www.scmp.com/business/article/3336115/chow-tai-fook-sells-australian-energy-assets-singapore-group-us43-billion?utm_source=rss_feed https://www.scmp.com/business/article/3336115/chow-tai-fook-sells-australian-energy-assets-singapore-group-us43-billion?utm_source=rss_feed Thu, 11 Dec 2025 14:00:13 +0000 Cheryl Arcibal Cheryl Arcibal Adrian Cheng Chi-kong, former heir apparent to Hong Kong property giant New World Development (NWD), has partnered with a Dubai royal and businessman to spruce up the retail, leisure and cultural offerings of Wafi City, one of the United Arab Emirates (UAE) city’s top shopping destinations. Cheng and Dubai Sheikh Mana bin Khalifa Al Maktoum, founder and chairman of the Wafi Group, signed an agreement to set up a new entity called Wafi Anime 11 in Dubai on Wednesday, according to a statement on... https://www.scmp.com/business/companies/article/3336095/adrian-cheng-signs-retail-partnership-wafi-group-headed-dubai-royal?utm_source=rss_feed https://www.scmp.com/business/companies/article/3336095/adrian-cheng-signs-retail-partnership-wafi-group-headed-dubai-royal?utm_source=rss_feed Thu, 11 Dec 2025 11:16:29 +0000 Oscar Liu Oscar Liu Hong Kong’s property tycoons made high-profile appearances to cast their ballots during Sunday’s Legislative Council election and urged the public to fulfil their civic duty. Sun Hung Kai Properties (SHKP) chairman and managing director Raymond Kwok Ping-luen voted at the Wong Chuk Hang Sports Centre in Aberdeen on Sunday morning. SHKP said it had introduced several measures to encourage its staff and the public to fulfil their civic duty by voting to elect capable candidates. The Legco poll,... https://www.scmp.com/news/hong-kong/politics/article/3335526/hong-kong-property-tycoons-turn-heads-poll-urge-voters-fulfil-civic-duty?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3335526/hong-kong-property-tycoons-turn-heads-poll-urge-voters-fulfil-civic-duty?utm_source=rss_feed Sun, 07 Dec 2025 14:22:26 +0000 Lo Hoi-ying,Olga Wong Lo Hoi-ying,Olga Wong Major Hong Kong developers are considering a blanket ban on smoking by workers at construction sites following a blaze in Tai Po that killed 159, with at least two companies already demanding all their contractors impose the rule or step up penalties. The Real Estate Developers Association told the Post on Friday that it was gathering views on the proposed smoking ban from its members, including major developers such as Sino Land, Swire Properties, Sun Hung Kai Properties and New World... https://www.scmp.com/news/hong-kong/society/article/3335294/hong-kong-developers-push-blanket-smoking-ban-construction-sites-after-deadly-fire?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3335294/hong-kong-developers-push-blanket-smoking-ban-construction-sites-after-deadly-fire?utm_source=rss_feed Fri, 05 Dec 2025 04:58:10 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s property deals slipped slightly in November after two months of gains, government data showed, with analysts warning of a deeper pullback this month as the Christmas holidays along with deferred launches of new homes following the deadly fire in Tai Po weigh on sentiment. Sales of new and lived-in homes, office units, shops, car parking spaces and industrial properties dipped 1 per cent to 7,121 from 7,190 in October, according to the Land Registry. The total value of deals edged up... https://www.scmp.com/business/article/3334920/hong-kong-home-sales-dip-december-slowdown-looms-amid-tragedy-holiday-lull?utm_source=rss_feed https://www.scmp.com/business/article/3334920/hong-kong-home-sales-dip-december-slowdown-looms-amid-tragedy-holiday-lull?utm_source=rss_feed Tue, 02 Dec 2025 10:29:52 +0000 Yulu Ao Yulu Ao Hong Kong’s worst residential fire in history has cast a shadow over property sentiment, but the overall impact on the home market is likely to prove temporary because broader economic fundamentals will continue to drive longer-term trends, according to analysts. The devastating fire last week at Wang Fuk Court in Tai Po left at least 146 people dead and 79 injured, including firefighters, with the status of around 150 residents still unclear. “Everyone is more cautious right now, and because of... https://www.scmp.com/business/china-business/article/3334672/hong-kong-property-viewing-dips-following-deadly-fire-city-pauses-mourn?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3334672/hong-kong-property-viewing-dips-following-deadly-fire-city-pauses-mourn?utm_source=rss_feed Sun, 30 Nov 2025 11:00:09 +0000 Cheryl Arcibal Cheryl Arcibal Emperor International Holdings has secured bank approval to resume borrowing under existing terms by nearly two years, providing the embattled Hong Kong developer with much-needed breathing room after it failed to meet HK$16.6 billion (US$2.13 billion) in debt obligations in July. Meanwhile, shares of Lai Sun Development (LSD) resumed trading on the Hong Kong stock exchange on Friday, after the firm said it was negotiating a potential asset sale alongside its parent company, Lai Sun Garment... https://www.scmp.com/business/article/3334500/hong-kong-developers-emperor-and-lai-sun-find-relief-amid-debt-pressures?utm_source=rss_feed https://www.scmp.com/business/article/3334500/hong-kong-developers-emperor-and-lai-sun-find-relief-amid-debt-pressures?utm_source=rss_feed Fri, 28 Nov 2025 07:44:26 +0000 Cheryl Arcibal,Enoch Yiu Cheryl Arcibal,Enoch Yiu Hong Kong developers have postponed property sales scheduled for Friday as the city mourns the deaths of dozens of residents in a devastating fire that broke out in Tai Po. Sino Group and New World Development announced on Thursday that the sale of 150 units at One Park Place in Yau Tong and 63 units at the Austin Bohemian project in Yau Ma Tei, respectively, would be deferred. Both Sino Group and NWD did not disclose the reason for the postponement or when sales would be rescheduled. Meanwhile,... https://www.scmp.com/business/article/3334316/hong-kong-developers-sino-group-nwd-delay-home-sales-after-devastating-tai-po-fire?utm_source=rss_feed https://www.scmp.com/business/article/3334316/hong-kong-developers-sino-group-nwd-delay-home-sales-after-devastating-tai-po-fire?utm_source=rss_feed Thu, 27 Nov 2025 05:11:32 +0000 Bloomberg Bloomberg Distressed Hong Kong developer New World Development (NWD) has secured investor consent to swap 65 per cent of its perpetual bonds in an exchange plan by an early deadline, but still has work to do to tackle the highest debt load among builders in the city. Investors tendered US$2.09 billion of the securities by an initial early deadline of November 17, out of a potential amount of as much as US$3.2 billion, a company filing showed. The company has since extended that early deadline for... https://www.scmp.com/business/article/3333251/new-world-development-secures-65-perpetual-bond-swap-debt-pressure-persists?utm_source=rss_feed https://www.scmp.com/business/article/3333251/new-world-development-secures-65-perpetual-bond-swap-debt-pressure-persists?utm_source=rss_feed Tue, 18 Nov 2025 08:20:47 +0000 Salina Li Salina Li Heavily indebted New World Development (NWD) has launched exchange offers for US$1.9 billion of its outstanding perpetual securities and notes to optimise its debt profile, enhance its liquidity and improve its financial position amid a challenging property market. The exchange offers covered a series of existing instruments, including perpetual securities issued by NWD Finance and notes issued by NWD (MTN) and New World China Land, which were guaranteed by NWD, according to a filing to the Hong... https://www.scmp.com/business/article/3331284/new-world-development-offers-us19-billion-debt-swap-boost-liquidity?utm_source=rss_feed https://www.scmp.com/business/article/3331284/new-world-development-offers-us19-billion-debt-swap-boost-liquidity?utm_source=rss_feed Mon, 03 Nov 2025 04:48:03 +0000 Cao Li Cao Li The daughter of prominent Hong Kong businessman Peter Law Kin-sang has bought a luxury flat in Mid-Levels West following his sale of a Peak mansion in the city’s most expensive property transaction this year. Winnie Law Wing-yin acquired a 4,710 sq ft (438 square metres) flat in tower two, phase one of The Legacy for HK$355 million (US$45.7 million), according to Land Registry records. The transaction was completed on Tuesday. The luxury project at 8 Castle Road was jointly developed by... https://www.scmp.com/business/money/article/3330964/businessman-peter-laws-daughter-buys-us46-million-flat-after-record-peak-mansion-sale?utm_source=rss_feed https://www.scmp.com/business/money/article/3330964/businessman-peter-laws-daughter-buys-us46-million-flat-after-record-peak-mansion-sale?utm_source=rss_feed Fri, 31 Oct 2025 00:30:14 +0000 Salina Li Salina Li A multinational infrastructure consultancy has leased 120,000 sq ft for its upgraded Asia headquarters at a grade A office building of New World Development (NWD) in Cheung Sha Wan, setting a record as the biggest post-pandemic deal of its kind in the district. Aecom, drawn by the district’s well-developed transport network and accessibility, which supports employee commutes and business development across the Greater Bay Area and Northern Metropolis, was the latest tenant at NWD’s 83 King Lam... https://www.scmp.com/business/article/3330860/hong-kong-developer-nwd-seals-record-deal-global-firm-aecoms-asia-headquarters?utm_source=rss_feed https://www.scmp.com/business/article/3330860/hong-kong-developer-nwd-seals-record-deal-global-firm-aecoms-asia-headquarters?utm_source=rss_feed Thu, 30 Oct 2025 06:10:28 +0000 Salina Li Salina Li Adrian Cheng Chi-kong, former heir apparent to Hong Kong property giant New World Development (NWD) and founder of investment firm ALMAD Group, has become a shareholder in CBCX Group, a London-headquartered multi-asset broker. Founded in 2011, CBCX offers a trading platform for currencies, precious metals, stocks, indices and commodities. It is also expanding into the digital-asset ecosystem. “This strategic investment will inject significant momentum and resources into CBCX’s growth across the... https://www.scmp.com/business/companies/article/3330482/hong-kong-scion-adrian-cheng-backs-london-based-multi-asset-broker-cbcx?utm_source=rss_feed https://www.scmp.com/business/companies/article/3330482/hong-kong-scion-adrian-cheng-backs-london-based-multi-asset-broker-cbcx?utm_source=rss_feed Mon, 27 Oct 2025 09:45:10 +0000 Enoch Yiu Enoch Yiu Challenges from commercial property credit quality will persist for Hong Kong banks next year, though these may be balanced by prospects in capital markets and yuan business, according to the head of the city’s de facto central bank. “The Hong Kong Monetary Authority will continue to monitor the credit quality of the property sector, which will continue to be a challenge for the banking sector next year,” said chief executive Eddie Yue Wai-man in an exclusive interview. However, there was no... https://www.scmp.com/business/banking-finance/article/3330408/property-credit-quality-issues-manageable-hong-kong-banks-hkmas-eddie-yue-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330408/property-credit-quality-issues-manageable-hong-kong-banks-hkmas-eddie-yue-says?utm_source=rss_feed Mon, 27 Oct 2025 02:20:05 +0000 Aileen Chuang Aileen Chuang New World Development (NWD) denied market speculation that it is conducting a liability-management exercise involving its perpetual bonds or other debt securities and seeking equity financing from investors, according to an exchange filing on Tuesday. The Hong Kong-based property developer, which has been battling liquidity problems for the past three years, made the statement in response to media reports that said the firm was in the process of preparing for these moves. “Shareholders, holders... https://www.scmp.com/business/banking-finance/article/3329863/hong-kong-developer-nwd-denies-rumours-scramble-manage-debt-secure-equity-financing?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3329863/hong-kong-developer-nwd-denies-rumours-scramble-manage-debt-secure-equity-financing?utm_source=rss_feed Wed, 22 Oct 2025 01:31:08 +0000 Julie Zhang Julie Zhang Chinese electric-vehicle maker Li Auto’s founder and CEO Li Xiang topped Hong Kong’s paid director ranking for 2024 with a total remuneration package of about HK$680 million (US$87.4 million). According to the latest director pay league table published by Webb-site on Sunday, the financial data platform founded by corporate governance activist David Webb, Li’s HK$679.78 million package was made up of HK$676.78 million in stock options and a HK$2.83 million base salary. The ranking table analysed... https://www.scmp.com/business/china-business/article/3328757/li-auto-ceo-tops-hong-kongs-highest-paid-directors-list-2024-webb-site?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3328757/li-auto-ceo-tops-hong-kongs-highest-paid-directors-list-2024-webb-site?utm_source=rss_feed Mon, 13 Oct 2025 04:46:07 +0000 Cheryl Arcibal Cheryl Arcibal Ever since Hong Kong’s retail sector shook off 14 months of consecutive declines in May, analysts have been speculating whether the city’s landlords and developers can look forward to rental increases sooner rather than later. Hong Kong retailers such as Bakehouse and Korean food and beverage operator Seoul Recipe Group are more optimistic these days, as locals and tourists alike start to spend more in the city. However, a meaningful recovery in rents for high street shops and prime shopping... https://www.scmp.com/business/companies/article/3328623/hong-kong-retailers-cheer-sales-boom-shop-rental-hikes-may-not-follow-any-time-soon?utm_source=rss_feed https://www.scmp.com/business/companies/article/3328623/hong-kong-retailers-cheer-sales-boom-shop-rental-hikes-may-not-follow-any-time-soon?utm_source=rss_feed Sun, 12 Oct 2025 02:30:08 +0000 Wynna Wong Wynna Wong The NBA made a star-studded return to China on Friday, with singers, dancers, thousands of fans and a glittering array of celebrities cheering the league’s first game in the country for six years. A night long in the making began with a crowd of 11,317 at The Venetian Arena in Macau being treated to a show of illuminated lion dancers dressed in black, orange and purple, the colours of the Brooklyn Nets and Phoenix Suns. “Thank you for letting us back,” the Suns’ Dillon Brooks told the crowd in... https://www.scmp.com/sport/basketball/article/3328603/phoenix-suns-shine-macau-nba-makes-star-studded-return-china?utm_source=rss_feed https://www.scmp.com/sport/basketball/article/3328603/phoenix-suns-shine-macau-nba-makes-star-studded-return-china?utm_source=rss_feed Fri, 10 Oct 2025 15:59:31 +0000 Salina Li Salina Li Buyers connected to Hong Kong property developer Great Eagle Holdings have bought another home in the New Territories after snapping up dozens of units across the city in recent months. The 773 sq ft three-bedroom unit at Grand Mayfair II in Kam Tin South, developed by China Overseas, Sino Land and K Wah, was sold for HK$11.99 million (US$1.54 million), or HK$15,510 per square foot, and handed over to Rising Thrive on October 2, according to Land Registry records. Alexander Lo Chun-him, Kan... https://www.scmp.com/business/article/3328506/hong-kong-developer-great-eagles-executives-jointly-acquire-us15-million-flat?utm_source=rss_feed https://www.scmp.com/business/article/3328506/hong-kong-developer-great-eagles-executives-jointly-acquire-us15-million-flat?utm_source=rss_feed Fri, 10 Oct 2025 07:05:41 +0000 Cannix Yau Cannix Yau Hong Kong retailers and caterers have reported business growth of up to 20 per cent year on year during mainland China’s National Day “golden week” break, with one tourist spending a whopping HK$1 million (US$128,500) on international brands. Industry leaders said stores selling gold, jewellery and cosmetic products emerged as the big winners as the eight-day break wrapped up on Wednesday, while cha chaan teng were the top dining choice, followed by Chinese restaurants. Cha chaan teng are Hong... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3328273/hong-kong-retailers-caterers-enjoy-national-day-break-business-growth-20?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3328273/hong-kong-retailers-caterers-enjoy-national-day-break-business-growth-20?utm_source=rss_feed Wed, 08 Oct 2025 13:20:13 +0000 Salina Li Salina Li The son of former financial secretary Henry Tang Ying-yen has bought property in Kowloon, joining a growing number of affluent buyers snapping up homes in Hong Kong amid improving confidence in the residential market. Two connected units at Wheelock Properties’ Kadoorie Hill luxury project were sold for HK$36.4 million (US$4.7 million) each and handed over on October 3, according to the Land Registry. The flats were bought through two entities, Jumbo Bridge and Risking Sky. William Harry Tang... https://www.scmp.com/business/article/3328109/henry-tangs-son-buys-2-flats-wheelocks-kadoorie-hill-boost-property-market?utm_source=rss_feed https://www.scmp.com/business/article/3328109/henry-tangs-son-buys-2-flats-wheelocks-kadoorie-hill-boost-property-market?utm_source=rss_feed Tue, 07 Oct 2025 08:06:49 +0000 Cheryl Arcibal Cheryl Arcibal Fancy living in a Snow White and the Seven Dwarfs-themed neighbourhood? How about an opulent flat influenced by the luxury fashion house Versace? If that is not your thing, what about a luxury abode with a layout approved by tennis legend Rafael Nadal? Branded residential property – projects affiliated with well-known international marques and built in partnership with a developer – continue to be dominated by hotel brands, as homebuyers prefer to obtain the same amenities or services from those... https://www.scmp.com/business/article/3327839/disney-versace-and-nadal-rise-branded-residences-and-why-hong-kong-outlier?utm_source=rss_feed https://www.scmp.com/business/article/3327839/disney-versace-and-nadal-rise-branded-residences-and-why-hong-kong-outlier?utm_source=rss_feed Sun, 05 Oct 2025 01:30:14 +0000 Cheryl Arcibal Cheryl Arcibal New World Development (NWD), controlled by one of Hong Kong’s richest families, reported losses for the second consecutive year even as its CEO assured shareholders that there was no need for “undue concern”. The developer, which has been battling liquidity problems for the past three years, said losses from continuing operations amounted to HK$16.3 billion (US$2.09 billion). This was more than 38 per cent higher than the HK$11.8 billion loss in the previous financial year from July 2023 to June... https://www.scmp.com/business/companies/article/3327031/nwd-reports-higher-losses-ceo-says-debt-reduction-efforts-yield-results?utm_source=rss_feed https://www.scmp.com/business/companies/article/3327031/nwd-reports-higher-losses-ceo-says-debt-reduction-efforts-yield-results?utm_source=rss_feed Fri, 26 Sep 2025 11:02:07 +0000 Salina Li Salina Li Affluent Hong Kong investors – from the former CEO of the Hong Kong stock exchange to the chairman of Great Eagle Holdings – have been snapping up residential properties, despite doubts by many prospective homebuyers that prices of flats across the city have hit bottom. Francis Yuen Tin-fan and his wife Rose Lee Wai-mun spent HK$92 million (US$11.8 million) on two luxury flats at The Knightsbridge in Kai Tak over a span of two months. Their latest transaction on Tuesday was for a 1,259 sq ft... https://www.scmp.com/property/hong-kong-china/article/3326237/signs-confidence-affluent-hong-kong-investors-snap-luxury-flats-market-improves?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3326237/signs-confidence-affluent-hong-kong-investors-snap-luxury-flats-market-improves?utm_source=rss_feed Sun, 21 Sep 2025 04:00:18 +0000 Daniel Ren Daniel Ren Adrian Cheng Chi-kong has launched a new business focused on “transformative industries”, including culture and healthcare, nearly three months after the third-generation scion of New World Development (NWD) left the company. His new enterprise, ALMAD Group, will target markets in Southeast Asia and the Middle East, as well as mainland China, with a mission to break “boundaries in digital and virtual assets”, it said in a statement. The group owns the “K11 by AC” brand. “We are living in an era... https://www.scmp.com/business/china-business/article/3326255/adrian-cheng-sharpens-focus-transformative-industries-under-new-firm-almad-group?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3326255/adrian-cheng-sharpens-focus-transformative-industries-under-new-firm-almad-group?utm_source=rss_feed Sun, 21 Sep 2025 01:00:16 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s homebuyers defied a No 3 typhoon signal to snap up apartments during two property sales on Friday, entering the market after commercial banks lowered their prime lending rates a day earlier following the first rate cut by the local monetary authority. New World Development and CK Asset Holdings, two of the largest property developers in the city, sold 120 apartments, or 66 per cent of the 190 flats on offer at two locations as of 8:30pm. New World sold 115 of the 120 units in the... https://www.scmp.com/business/article/3326182/hong-kongs-homebuyers-brave-storm-signal-citys-first-post-rate-cut-property-sales?utm_source=rss_feed https://www.scmp.com/business/article/3326182/hong-kongs-homebuyers-brave-storm-signal-citys-first-post-rate-cut-property-sales?utm_source=rss_feed Fri, 19 Sep 2025 10:22:21 +0000 Salina Li Salina Li New World Development (NWD) and CK Asset Holdings on Thursday became the first two developers to announce property sales after interest rates were lowered, with analysts saying the move would boost transactions but not prices due to elevated supply. NWD said all 120 units at House Muse in Kowloon City would go on sale on Friday. It is the first new residential project to be launched after the Hong Kong Monetary Authority (HKMA) cut rates for the first time this year, bringing down the cost of... https://www.scmp.com/business/article/3325987/nwd-and-ck-asset-launch-sales-hoping-hkmas-first-rate-cut-year-revives-sentiment?utm_source=rss_feed https://www.scmp.com/business/article/3325987/nwd-and-ck-asset-launch-sales-hoping-hkmas-first-rate-cut-year-revives-sentiment?utm_source=rss_feed Thu, 18 Sep 2025 09:15:12 +0000 Salina Li Salina Li Hong Kong developer K. Wah International on Thursday said it priced units in a new residential development in Tin Hau 17 per cent higher than a new neighbouring project that was launched last year, as both transactions and home prices have lately shown signs of recovery. K. Wah International said it priced 30 units in its Kabitat Tin Hau project, located at 33 King’s Road, at an average price of HK$24,311 (US$3,121) per square foot after a maximum discount. The average price in the 74-flat... https://www.scmp.com/business/companies/article/3325230/developer-k-wah-international-prices-new-tin-hau-units-higher-level-neighbour?utm_source=rss_feed https://www.scmp.com/business/companies/article/3325230/developer-k-wah-international-prices-new-tin-hau-units-higher-level-neighbour?utm_source=rss_feed Thu, 11 Sep 2025 12:42:27 +0000