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…
The Hong Kong Academy for Wealth Legacy (HKAWL), chaired by Adrian Cheng Chi-kong, launched a web portal on Tuesday to connect wealthy families with philanthropic initiatives, giving them access to high-impact projects. The Impact Link Online Portal (iLink) will serve as a repository for philanthropic projects that wealthy families can participate in, as well as…
A consortium of developers, led by New World Development (NWD), raked in HK$1.3 billion (US$166 million) from the sale of 24 luxury units in Hong Kong’s Southern district, as wealthy buyers take advantage of a market downturn to acquire prized assets. On Friday, a 1,706 sq ft, four-bedroom unit in Deep Water Pavilia, a 447-unit…