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
last updated:
30 September, 2024
Secretary for Development Bernadette Linn says an agreement signed last month aimed to unite efforts and promote the project near the border with mainland China. Photo: May Tse
Hong Kong economy

Hong Kong’s Northern Metropolis MOU a ‘general expression’ of support: minister

Bernadette Linn says non-binding deal to support megaproject does not require commitments for formal tenders.

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Banking & finance

NWD to focus on corporate strategy as stock slides amid debt crisis

Hong Kong property

New World Development takes more beating in market as debt crisis lingers

Hong Kong property

New World faces risk of mounting losses amid Hong Kong property slump

New CEO Huang has to grapple with looming losses on costly projects in a market downturn.

The New World Tower in Central. The developer is expected to sell two coming residential projects at a loss. Photo: Jelly Tse
Hong Kong property

New World CEO Huang has task cut out to set Hong Kong developer’s house in order

Company insider has a solid background, but will have to prove to investors that she is the right person for the job, analysts say.

Hong Kong economy

Hong Kong developers say profits come first after Beijing’s North Metropolis call

‘One country, two systems’ guarantees that no top-down instruction will be placed on developers to discharge their social responsibilities, industry representative says.

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Hong Kong property

New World sells Hong Kong sports park stake to parent to tackle debt

Stake in New World Sports Development, the developer of Kai Tak Sports Park, sold to Chow Tai Fook Enterprises for US$53.5 million.

New World Development has sold its stake in Kai Tak Sports Park to its parent. Photo: Dickson Lee
Hong Kong stock market

New World Development ejected from Hang Seng Index

Quarterly review adds video platform Kuaishou Technology and New Oriental Education & Technology to the Hong Kong benchmark.

Hong Kong property

Cautious bids expected for second try at Hong Kong land sale

MTR Corp’s tender for a Tung Chung site follows a senior government official’s call for developers to show faith in Hong Kong’s future.

IPO

Could Hong Kong property tycoons’ backing lead to revival of IPOs?

Hong Kong billionaires are cornerstone investors in SF Holding’s US$793 million IPO, the first time tycoons have backed a listing in the city since 2022.

SF Holding, the parent of SF Express, will list in Hong Kong next week. Photo: Reuters
Accidents and personal safety

Hong Kong worker killed by falling cage lift at residential project site

Preliminary investigations show machine malfunction caused cage to fall and hit man at Pavilia Farm III development.

Pavilia Farm in Tai Wai. Photo: Google Maps
Hong Kong property

Hong Kong homebuyers give the cold shoulder to New World-led Pavilia Forest II

Pavilia Forest II recorded only one sale as of 5pm on Saturday, while Double Coast I found buyers for 20 units out of 58 flats on offer.

China property

Hong Kong developers launch mainland homes to catch hot demand

Companies experienced a surge in showroom visits during China’s ‘golden week’ holiday earlier this month.

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Hong Kong property

Ambitious NWD growth plans under Adrian Cheng leave company with a big debt load

The litany of projects that Cheng oversaw as CEO of New World made the company one of the city’s most indebted property developers.

Adrian Cheng Chi-Kong in September. Photo: Eugene Lee
Hong Kong economy

Opinion | Hong Kong cannot afford to lose its entrepreneurial spirit

We owe it to ourselves and our city to think big, take risks and hold ourselves to a higher standard – and take our hats off to those who do.

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Illustration: Craig Stephens
Hong Kong stock market

New World Development shares jump after replacement of CEO Adrian Cheng

Shares of New World Development surged after resuming trading following the replacement of its CEO, as the property developer seeks a revamp.

Hong Kong property

Hong Kong’s New World taps outsider for turnaround after record loss

Adrian Cheng Chi-kong stepped down as New World’s CEO, handing over to Eric Ma Siu-cheung the job that he had held for four years.

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HKEX

Shares of New World Development, retail unit suspended from Hong Kong trading

New World Development and another listed unit were suspended from trading following a report about the company’s future leadership.

New World Development’s Adrian Cheng Chi-kong. Photo: SCMP/Edmond So
Hong Kong property

New World COO Eric Ma likely to replace Adrian Cheng as CEO, sources say

Cheng, born in 1979, will become the non-executive vice-chairman of New World, giving up his title of chief executive officer, sources say.

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Hong Kong property

NWD to post US$2.4 billion loss in past financial year amid property sector woes

A non-cash impairment loss of up to HK$9.5 billion will not have any impact on its core operating profit or operating cash flow, NWD said.

Hong Kong

Chow Tai Fook Enterprises appoints 3 co-CEOs to lead growth

Christopher Cheng, one of the three newly named co-CEOs, is a son of the Cheng family patriarch and billionaire Henry Cheng Kar-shun.

CTFE is part of the group of companies founded under the Chow Tai Fook name in 1929. Photo: Shutterstock
Hong Kong property

NWD makes progress on cutting debt with repayments, refinancing

The group has received a bid of HK$9 billion for its K11 Art Mall in Tsim Sha Tsui from a subsidiary of China Resources Holdings, according to a local media report.

Hong Kong-listed New World Development said it had completed more than HK$16 billion of loan arrangements and debt repayments in July and August. Photo: Shutterstock
Retail properties

Prada to open huge outlet in Hong Kong’s K11 Musea after years of downsizing

The two-storey outlet in New World’s harbourfront luxury mall will be the Italian brand’s first in Hong Kong since it closed its flagship store in Causeway Bay in 2020.

Hong Kong housing

Exclusive | Affordable homes will give Hong Kong youth chance to soar, housing chief says

Housing secretary says boost in home ownership through increased number of affordable flats will be a significant incentive for the young.

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Hong Kong property

Hong Kong developers keep pricing flats to move amid supply glut

New price lists from New World Development, Far East Consortium and Early Light International undercut recent nearby sales by up to a third amid buyer’s market – for those who can stomach the interest rates.

An artist’s impression of the The Uppland, a development in Tuen Mun, Hong Kong, by Early Light International. Photo: Handout
Banking & finance

New World’s scion Adrian Cheng lists C Capital on Swiss exchange

Cheng will sell his unit C Capital to Youngtimers, a special situation investment firm that has been listed since 2000 on the SIX exchange.

Adrian Cheng Chi-kong, chief executive officer and executive vice chairman of New World Development, during the Hong Kong Fintech Week on October 31, 2022. Photo: Bloomberg
Hong Kong property

Hong Kong’s New World, Far East primed for sell-out at Pavilia Forest I amid strong demand

This weekend’s sale show how the city’s property developers continue to cough up significant discounts to entice homebuyers.

Hong Kong property

Hong Kong developers slash Kai Tak flat prices to 8-year low to drum up sales

Hong Kong’s recent property launches have been discounted by as much as 10 per cent, compared with similar projects in 2015, according to data tracked by JLL.

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