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04.09.25 - 07:18
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Adrian Cheng exits as CTFE director, ending role in Hong Kong family empire (SCMP)
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Adrian Cheng Chi-kong is no longer a director of New World Development parent company Chow Tai Fook Enterprises (CTFE), cutting the last tie that connected the former heir apparent to one of the city's most powerful business empires.
His name is no longer listed as a director, according to the Hong Kong Companies Registry, the government body responsible for the incorporation and regulation of companies. It did not indicate when he stepped down from the post.
CTFE did not respond to requests for......
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02.09.25 - 06:00
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NWD says it has not received proposal from Cheng family on capital injection (SCMP)
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New World Development (NWD) shares dropped on Tuesday after the property developer said it has not received a proposal from its controlling shareholder, the billionaire Cheng family, on a capital injection.
“Save that the company is in discussions with respect to a loan facility led by Deutsche Bank as part of the company's ordinary course financing activities, the company has not received any funding proposal as alleged in the rumours,” NWD said on Monday night.
NWD's shares fell 2.7 per cent......
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01.09.25 - 10:54
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New World′s Cheng family weighs capital injection, sources say (SCMP)
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New World Development's controlling shareholder, the billionaire Cheng family, is considering injecting capital into the debt-laden Hong Kong developer as early as the end of the year, according to people familiar with the matter.
The family of Hong Kong tycoon Henry Cheng was willing to contribute about HK$10 billion (US$1.3 billion) and was seeking a partner that could provide a roughly similar amount for an equity stake, said the people, who asked not to be identified discussing private......
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07.08.25 - 04:48
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NWD, CR Land to pay reduced premium for Northern Metropolis project (SCMP)
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New World Development (NWD) and mainland developer China Resources Land are finalising discussions with the Hong Kong government on a land premium for their Northern Metropolis megaproject, with a proposed price that is cheaper than rates secured in nearby areas recently.
The price of the two involved sites, located in southern Yuen Long, was between HK$1,500 and HK$1,600 per square foot after the government – eager to speed up the development of the Northern Metropolis – took into consideration......
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31.07.25 - 08:24
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New World ramps up luxury home sales in Hong Kong and mainland China (SCMP)
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New World Development (NWD) is ramping up the delivery of residential projects in Hong Kong and mainland China after raising more than HK$13 billion (US$1.7 billion) from the sale of luxury flats in the city.
The Hong Kong-based developer, which is undergoing the biggest debt workout in three generations of ownership by the Cheng family, will hold a ready-for-occupancy sale for The Pavilia Forest in Kai Tak in September, the company said on Thursday.
“This quarter, three luxury residential......
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25.07.25 - 14:00
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AAHK Spokesperson: Continuous Talks w/ NWD on 11 SKIES Project (AAStocks)
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The Airport Authority Hong Kong (AAHK) is in talks with NEW WORLD DEV (00017.HK), considering finding a new partner to undertake and complete the 11 SKIES project, with the financial terms being still under negotiation, reported the South China Morning Post. The discussions reportedly focus on the retail, dining, and entertainme......
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