The Zheng family, unwilling to relinquish control of New World Development, will have to shoulder the debt repayment themselves after Blackstone reportedly withdrew from the equity investment.

Guancha SyndicateMay 14 22:29

New World Development (00017.HK) plans to upload the sales brochure for its Kowloon Tong project 'The Arte' as early as next week, with an intended launch within the month.

New World Development (00017.HK) stated that the market response has been very enthusiastic for its low-density luxury residential project, PAVILIA ROSA, located adjacent to the Kowloon Tong MTR station, since its naming. To date, it has received thousands of inquiries, including interest from traditional local luxury property buyers, high-end clients of family offices, and mainland Chinese tycoons. He Jiaxin, Director of Sales and Marketing at New World Development, mentioned that the property website for 'PAVILIA ROSA' has officially launched. The preparation of the sales brochure and show units is in its final stages, with the sales brochure expected to be uploaded as early as next week, and the project is set to make a prominent debut within the month. PAVILIA ROSA offers approximately 100 low-density residential units.

AASTOCKSMay 14 12:24

The Hang Seng Index's half-day gains narrowed to 90 points; Alibaba (09988.HK) rose 5% post-earnings while gold mining stocks faced selling pressure.

The three major U.S. stock indices closed mixed overnight. U.S. President Donald Trump began his visit to China, accompanied by several senior executives from technology companies. The Hang Seng Index opened higher by 448 points today but trimmed gains, closing at 26,478 points at midday, up 90 points or 0.34%. The half-day turnover amounted to HKD 181.231 billion. The Hang Seng Tech Index closed at 5,109 points, up 16 points or 0.31%; the Hang Seng China Enterprises Index stood at 8,889 points, up 13 points or 0.15%. Leading tech stocks performed mixed, with Alibaba (09988.HK) seeing its target price raised by major investment banks after releasing its quarterly earnings; it closed at HKD 139.5 at midday, up

AASTOCKSMay 14 12:20

New World Development clarified three major market rumors: no significant progress in potential investments, no agreement reached on the contract changes for 11 SKIES, and the deadline for resetting financing terms remains undetermined.

New World Development issued an announcement stating that the company has noted media reports speculating on potential investments in the company, the group's '11 SKIES' project, and the group's financing arrangements.

Zhitong FinanceMay 14 07:52

Blackstone Group reportedly abandoned a $4 billion deal with New World Development (00017.HK).

Bloomberg reported, citing sources, that Blackstone Group (BX.US) has abandoned a $4 billion deal with New World Development (00017.HK) after the Cheng family refused to relinquish control, bringing an end to months of negotiation deadlock. Since March, New World Development has reportedly been in talks with other potential buyers, including a consortium led by RRJ Capital and Ares Management Corp; however, progress has been slow. Unlike Blackstone, these consortia are not seeking to gain control of New World Development but are opting to hold minority stakes, ensuring the Cheng family remains the largest shareholder.

AASTOCKSMay 13 17:40

A three-bedroom suite with sea views at Kai Tak's Berkley Modern III has been sold at a record-breaking price, with the per-square-foot price exceeding HK$29,400.

New World Development (00017.HK), in partnership with Far East Consortium International (00035.HK) for the Kai Tak project Berkeley Grand, sold one unit via tender today (October 11). The unit sold is Berkeley Grand III Tower 1, 23/F, Unit A, featuring an open yacht harbor view with both living room and bedrooms facing the same direction. It has a saleable area of 666 square feet and a three-bedroom suite design. The transaction price was HKD 19.639 million, or HKD 29,488 per square foot, setting a new high for the project. Since its completion, the Berkeley Grand series has sold 270 units, generating over HKD 2.1 billion. Cumulatively since its launch, it has sold 907 units, generating over HKD 6.6 billion.

AASTOCKSMay 11 17:58