HongKongRealEstate

New World Development Faces Major Setback with HK$6.6 Billion Loss

1 month ago

In a significant financial blow, New World Development, one of Hong Kong's prominent property developers, has reported a staggering loss of HK$6.6 billion for the fiscal year ending in June 2023. This unprecedented monetary downturn is attributed to various economic challenges and escalating operating costs that have severely impacted the company’s overall performance.

New World Development Seals $80 Million Deal for Industrial Tower in Hong Kong

4 months ago

In a significant financial move, New World Development, a prominent real estate conglomerate based in Hong Kong, has successfully sold its industrial tower for a substantial sum of $80 million. This transaction comes amidst evolving market conditions and reflects the ongoing transformations within the industrial property segment in Hong Kong.

Hong Kong's Home Market Faces Shift: Buy-Rent Gap Set to Narrow as Prices Stabilize

5 months ago

Recent analysis indicates that Hong Kong's housing market is poised for a significant transition as home prices begin to bottom out. The once considerable premium of buying over renting is expected to diminish in the coming months, driven by a stabilization of property prices after a prolonged downturn.