An Australian casino operator backed by the Cheng family controlling Hong Kong’s New World Development revealed Wednesday that its available cash fell 47 percent in the three months to 31 December, throwing doubt on its future as the company faces… Read More>>
Hong Kong Tycoons Selling London West End Office to US REIT Realty Income for $162M
A private investment vehicle backed by some of Hong Kong’s biggest property tycoons is selling a prime office building in London’s St James’s district, as the city’s real estate investors continue to divest properties after being stung by slumps at… Read More>>
New World’s Cheng Family Ousts Giordano Boss in Hong Kong Fashion Battle
The Cheng family of Hong Kong’s New World Development and Chow Tai Fook jewelry stores has succeeded in ousting the chief executive and chairman of Giordano International, pushing through new leadership for the fashion retailer at a special general meeting… Read More>>
New World’s Cheng Family Seeks to Push Out Giordano Boss Peter Lau
The Cheng family behind New World Development has called for the dismissal of Peter Lau from his role as CEO of Giordano International, the Hong Kong-listed fashion retailer in which a Cheng-controlled vehicle is the largest shareholder.
The clan led… Read More>>
New World’s Henry Cheng Says Searching for Successor, May Opt for External Candidate
Hong Kong property and retail tycoon Henry Cheng Kar-shun says he is still looking for a successor to run the family’s business and did not rule out selecting an external candidate, throwing into question the role of his eldest son,… Read More>>
Cheng Family Boosts NWS Stake in $4.5B Deal and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, the billionaire Cheng family of Hong Kong’s NWS seeks to privatise the group in a bid to pump liquidity into New World Development, and Japan’s Mori Trust makes its maiden New York investment… Read More>>
PAG Could Delay $2B Hong Kong IPO and More Asia Real Estate Headlines
Asia’s roiling markets may have capsized an IPO expected to be among the biggest this year as reports emerge that PAG is backing away from its plan for a public listing. Also in the news, China Huarong Asset Management warns… Read More>>
New World Puts New Territories Mall on the Market for $764M
New World Development is looking for a buyer for a retail podium of its Discovery Park development in the New Territories as the Hong Kong-listed developer shops a number of non-core properties in the city, according to market sources.
The… Read More>>
New World Boss’ London Project Launches $171M Token Offering
Knight Dragon, a UK-based developer owned by New World Development’s chairman, is offering the investing public a chance to get a slice of the earnings from a London residential project through blockchain technology in a deal valued at £140 million… Read More>>
New World Vice Chair William Doo Buys London Building for $175M
A member of the clan behind Hong Kong’s New World Development has bought another piece of prime UK real estate, as tycoon William Wai-hoi Doo reportedly purchased an 11-storey building in the City of London for more than £130 million… Read More>>