New World Development Co.’s financial distress is creating angst just as Hong Kong is starting to regain its feet. The real estate developer’s systemic importance is of great concern to residents, policymakers and investors alike. Property fire sales at New World could drag down home prices further, while a potential default will impair banks’ loan…
The first batch of flats on offer at the Deep Water Pavilia project on the south side of Hong Kong island are expected to sell out, according to property agents, as homebuyers rushed to snap up available units this weekend on the back of discounted pricing and low interest rates. As of 1pm on Saturday,…
A consortium of builders led by New World Development (NWD) priced a new residential project on the south side of Hong Kong Island below all neighbouring developments, as the embattled company seeks to whittle down HK$124 billion (US$15.8 billion) in debt. The developers priced 101 flats in the 447-unit Deep Water Pavilia project in Wong…
New World Development’s K11 Musea shopping mall, part of the company’s flagship Victoria Dockside development in Hong Kong’s Tsim Sha Tsui district. Paul Yeung/Bloomberg Shares of New World Development, controlled by Hong Kong’s billionaire Cheng family, dropped almost 6.5% on Monday after the debt-laden property developer deferred interest payments on several bonds, deepening investor concerns…
May 19, 2025 Hong Kong’s real estate market is witnessing a fresh wave of residential unit launches, as developers strategically price properties below market rates to capture the burgeoning market sentiment. On Monday, Wing Tai Properties and China Vanke‘s Hong Kong unit announced the pricing of flats in the New Territories at about 8.5% lower…
Henderson Land Development, New World Development and Sino Land are among 22 Hong Kong and mainland Chinese companies that have expressed interest in a pilot scheme to develop large land parcels in the Northern Metropolis after a Beijing official urged the business sector to get involved. The Development Bureau said on Monday that it had…
Mar 13, 2025 US Investment Firm Ares Management Targets Debt of Hong Kong Developer New World Ares Management Corp., a US-based alternative investment manager, has approached several banks to acquire debt issued by Hong Kong developer New World Development Co. (source). Attempts by Ares to purchase the debt at a discount align with the company’s…
Hong Kong real-estate sales fell to their lowest point in five months in February, reflecting caution among homebuyers and investors amid increasing tensions between Washington and Beijing, according to property agencies. Sales of homes, office units, shops, car parking spaces and industrial spaces declined by 13 per cent to 4,295 deals from a month earlier,…
Hong Kong real-estate sales fell to their lowest point in five months in February, reflecting caution among homebuyers and investors amid increasing tensions between Washington and Beijing, according to property agencies. Sales of homes, office units, shops, car parking spaces and industrial spaces declined by 13 per cent to 4,295 deals from a month earlier,…
Sun Hung Kai Properties (SHKP), Hong Kong’s biggest developer by market value, said interim profit fell by almost a fifth as the city’s market slump eroded the value of its investment properties. Net profit dropped 18 per cent from a year earlier to HK$7.5 billion (US$967.7 million) in the six months ended December 31, it…