New World Development
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New World Development

New World Development
New World Development
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.
Chairman / President
Henry Cheng Kar-shun
CEO / Managing Director
Adrian Cheng Chi-kong
CFO / Finance Director
Edward Lau
Industry
Real property
Website
nwd.com.hk
Headquarters address
30/F, New World Tower, 16-18 Queen's Road Central, Hong Kong
Stock Code
SEHK:0017
OTC Pink:NDVLY
Year founded
1970
Hong Kong’s property sector is at the beginning of an upcycle, with prices likely to trend higher this year, according to Morgan Stanley. Photo: Dickson Lee
Hong Kong property

Morgan Stanley lifts Hong Kong property to ‘attractive’ as stars align

City’s home prices are expected to rise around 10 per cent in 2026, with an ongoing rebound heralding the start of a new upcycle.

Hong Kong property

Hong Kong developers test ultra-luxury home demand with new launch on The Peak

Luxury Hotels

Rosewood opens French ski resort after sources say hotel brand is not for sale

Hong Kong property

Hong Kong logistics group’s CEO buys US$17 million luxury home

An entity linked to Arnold Lee, CEO of Hecny Group, buys a 2,772 sq ft flat at The Legacy in Mid-Levels West.

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The Legacy residential project in Mid-Levels West has been jointly developed by Henderson Land Development and New World Development. Photo: Google
China property

Shanghai retail landscape evolves with new malls, shift to experiential shopping

Hang Lung, New World and Swire are renovating and expanding their malls in Shanghai to stay relevant in a competitive environment.

Hong Kong property

Yau Tong project nearly sells out amid hopes of home market recovery in 2026

The flats at One Park Place were in high demand after developers Sino Land, CSI Properties and MTR offered discounts of up to 15 per cent.

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Hong Kong property

Exclusive | Rosewood hotel brand of Hong Kong’s Chow Tai Fook is not for sale, sources say

The prestige brand has delivered ‘exceptional’ results, sources say, while suggesting that certain properties might be available.

The Rosewood Hotel in Tsim Sha Tsui, Hong Kong. Photo: Shutterstock
Mergers & Acquisitions

Chow Tai Fook sells Australian energy assets for US$4.3 billion

Sembcorp Industries to acquire 100 per cent ownership of Alinta Energy, which Chow Tai Fook acquired in 2017.

International Property

Hong Kong scion Adrian Cheng forms retail venture with Dubai group

Joint venture will connect ‘the consumers and rich cultural industries of the Middle East and Chinese-speaking markets’ at Dubai’s Wafi City.

4
Legislative Council election 2025

Hong Kong property tycoons turn heads at poll, urge voters to fulfil civic duty

Tycoons from SHKP, Sino Group, Henderson Land Development, New World Development, CK Hutchison and Chinese Estates cast ballots.

Henderson Land Development chairman Martin Lee made his presence felt in Wan Chai, where he cast his ballot. Photo: Nora Tam
Hong Kong’s Tai Po fire tragedy

Hong Kong developers push for smoking ban at construction sites after deadly fire

Two developers already stepping up measures, with viral video showing workers being told: ‘If anyone is caught smoking, they will have to leave’.

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Workers at a construction site in Kai Tak. Photo: Jelly Tse
Hong Kong property

Hong Kong home sales dip as December slowdown looms amid tragedy, holiday lull

Soft sentiment and stalled launches are expected to drag December property transactions to their lowest since August.

Hong Kong property

Hong Kong property viewing dips after deadly fire as city pauses to mourn

Fundamentals will continue to drive the market’s gradual improvement over the longer term, analysts say.

Hong Kong property

Hong Kong developers Emperor and Lai Sun find relief amid debt pressures

Emperor secures bank approval while Lai Sun negotiates asset sales as they work to ease debt pressures.

The Emperor Group Centre shopping centre in Wan Chai. Photo: Shutterstock Images
Hong Kong property

Hong Kong developers Sino Group, NWD delay flat sales amid Tai Po fire grief

Developers defer sales of a total of 213 units in Yau Tong and Yau Ma Tei scheduled for Friday.

Sino Group has postponed the sale of 150 units at One Park Place in Yau Tong. Photo: Google Maps
Hong Kong property

New World Development secures 65% perpetual bond swap but debt pressure persists

The Hong Kong developer has won backing for a partial exchange of its perpetual bonds, but the distressed builder still faces a hefty debt burden.

Bonds

New World Development offers US$1.9 billion debt swap to boost liquidity

The Hong Kong-listed developer will raise up to US$1.6 billion in new perpetual securities and around US$300 million in fresh notes.

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Hong Kong property

Hong Kong businessman Peter Law’s daughter buys US$46 million Mid-Levels flat

The purchase by Winnie Law follows her father’s US$140 million mansion sale in August – a sign of Hong Kong’s recovering property market.

An illustration of The Legacy in Mid-Levels West. Photo: Handout
Hong Kong property

Hong Kong developer NWD seals record deal for global firm Aecom’s Asia headquarters

Multinational firms, including Ralph Lauren and Lush, drive up occupancy rate of NWD’s grade A office building in Cheung Sha Wan.

Wealth management

Hong Kong entrepreneur Adrian Cheng backs multi-asset broker CBCX

The investment aligns with Cheng’s growing interest in virtual assets.

Banking & finance

Exclusive | Property credit quality issues manageable for Hong Kong banks: HKMA’s Eddie Yue

The banking sector next year has more opportunities than challenges, HKMA’s chief executive says.

HKMA chief executive Eddie Yue says Hong Kong’s banking sector has a strong capital ratio and is very profitable. Photo: Edmond So
Hong Kong property

Hong Kong’s NWD denies scramble to manage debt, secure financing

The developer, which has been battling liquidity problems for the past three years, makes a statement in response to media reports.

A view of New World Tower in Central on September 26, 2024. Photo: Jelly Tse
Banking & finance

Li Auto CEO Hong Kong’s highest-paid executive, Webb-site shows

CEO Li Xiang’s US$87.4 million remuneration package Hong Kong’s highest, according to finance activist league table.

Hong Kong property

As Hong Kong retail sales recover, can landlords follow with higher shop rents?

The journey from retail sales stabilisation to strengthened rental prices in the property market could take at least a year.

12
NBA China games

Phoenix Suns shine in Macau as the NBA makes a star-studded return to China

Stars of stage, screen and sports among fans in a packed Venetian Arena treated to an evening of singing, dancing and sparkling basketball.

Fans packed into the The Venetian Arena in Macau to watch the first of the NBA China Games between the Brooklyn Nets and Phoenix Suns. Photo: Karma Lo
Hong Kong property

Hong Kong developer Great Eagle’s executives jointly acquire US$1.5 million flat

Rising Thrive, an entity linked to Great Eagle’s executives, bought a 773 sq ft flat in Grand Mayfair in Kam Tin South.

An illustration of Grand Mayfair II. A three-bedroom unit at the project sold for nearly HK$12 million to Rising Thrive Limited, among whose directors is a son of Great Eagle chairman Lo Ka-shui. Photo: Handout
Hong Kong economy

Hong Kong retailers, caterers enjoy ‘golden week’ business growth of up to 20%

Business leaders say luxury retailers among holiday’s big winners, with one tourist spending whopping HK$1 million on international brands.

Hong Kong property

High-profile property sales add to Hong Kong’s market momentum

The flats, worth a combined US$9.4 million, were sold to entities linked to William Harry Tang, the son of ex-finance minister Henry Tang.

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