Hong Kong’s property sector could face some “short-term challenges” but “the risks are manageable” because the city’s economy was diversified and sat on a solid foundation, the chairman of the Financial Services Development Council (FSDC) said on Wednesday. “As an international financial centre, the global uncertainties would mean some Hong Kong industries would face certain…
Hong Kong prides itself on transparency, caution and adherence to the rule of law. Policy proposals undergo scrutiny and seek to strike a balance between legal, social and public interests. However, in an era of increased public scrutiny, the optics of governance often overshadow its true purpose or public benefit. This is frequently the case…
Hong Kong developer New World Development (NWD) has successfully refinanced HK$88.2 billion (US$11.3 billion) of debt just before the deadline, concluding months of negotiations that pulled the company back from the brink of default. The refinancing package includes multiple tranches of bank loans with varying maturities, with June 30, 2028, being the earliest, the developer…
Hong Kong’s residential property market is poised for a recovery after enduring a seven-year downturn, according to Morgan Stanley. Home prices in the city are set to bottom out, driven by an influx of mainland Chinese buyers, improved capital markets and a recent plunge in interest rates, analysts led by Praveen Choudhary said in a…
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…