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14.05.26 - 11:12
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Cheng family′s NWD slumps after admitting 11 Skies, new investor plans stalled (SCMP)
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Shares of New World Development (NWD) – the beleaguered property developer owned by one of Hong Kong's richest families – fell on Thursday, after the firm acknowledged it had made no progress on plans to dispose of a mega shopping centre project and introduce new investors.
The stock tumbled by as much as 4.7 per cent in Hong Kong, before paring some of the losses to close 4.3 per cent lower at HK$8.95. The Hang Seng Index remained largely unchanged for the day.
NWD was still in talks with Hong......
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13.05.26 - 12:15
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Blackstone Reportedly Walks away from USD4B Deal With NEW WORLD DEV (AAStocks)
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Blackstone Inc. (BX.US) has walked away from its USD4 billion deal with NEW WORLD DEV (00017.HK) after the Cheng family refused to relinquish control, ending months of deadlocked negotiations, Bloomberg reported, quoting people with the knowledge of the matter.Since March, NEW WORLD DEV has also been in talks with other potentia......
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30.04.26 - 14:36
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Hong Kong homebuyers flock to new launches as flats sell out swiftly (SCMP)
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Hong Kong homebuyers snapped up most of the new flats released on Thursday, with developers beginning to ramp up new construction amid sustained housing demand.
All 120 units at the One Victoria Cove I in Hung Hom, jointly developed by Henderson Land Development, Hysan Development and Empire Group, were sold by 5.20pm, according to agents. Meanwhile, New World Development (NWD) and MTR Corp's Pavilia Farm III above Tai Wai MTR station found buyers for 19 of the 45 units as of 6.50pm.
Most recent......
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25.04.26 - 11:42
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Hong Kong developers clear stock amid strong demand and shrinking supply (SCMP)
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Hong Kong developers released nearly 300 new flats to the market amid enthusiastic demand from potential homebuyers as the latest official data show completion of private residential units is set to decline this year and next.
As of 3pm, 138 out of 218 units at the One Victoria Cove Phase I in Hung Hom, jointly developed by Henderson Land Development, Hysan Development and Empire Group, were sold, while at the Pavilia Farm III atop Tai Wai station in Sha Tin by New World Development (NWD) and......
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19.04.26 - 15:12
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Hong Kong homebuyers extend sell-out streak amid renewed confidence in market (SCMP)
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Hong Kong homebuyers' strong demand for new flats extended a streak of brisk sales for developers with one project selling out in a single day, underscoring the city's broader recovery in housing prices.
All 88 units at the Pavilia Farm III project by New World Development and MTR Corporation in Sha Tin were sold on Saturday, prompting the developers to put 75 more flats on sale later that night.
Elsewhere in Kai Tak, 133 units of KT Marina II were snapped up over the weekend, according to......
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