Blackstone’s potential acquisition of a stake in New World Development (NWD) will help the embattled Hong Kong-listed developer improve its balance sheet and liquidity, benefiting creditors and shareholders alike, according to analysts. The New York-based private equity giant’s investment in NWD could take the form of “shareholder loans or direct equity financing, as well as…
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…
Chow Tai Fook Enterprise (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…
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…
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…
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…
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…
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…
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,…
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…