Editing New World Development (section)

== History ==
New World Development was founded on May 29, 1970,<ref>{{Cite web |title=New World Development {{!}} Company Overview & News |url=https://www.forbes.com/companies/new-world-development/ |access-date=2024-09-02 |website=Forbes |language=en}}</ref> with Dr. Ho Sin Hang as chairman and Cheng Yu-tung as Director and General Manager. The group went public on the Stock Exchange of Hong Kong Limited (SEHK) (SEHK: 17) in 1972.<ref>{{Cite web |title=New World Development Company |url=https://www.legal500.com/gc-powerlist/hong-kong-teams-2019/new-world-development-company/ |access-date=2024-09-02 |website=Legal500}}</ref>

=== Group Reorganization ===
To bring together infrastructure projects in Hong Kong and Mainland China, New World Infrastructure Limited (NWI) was created and listed on SEHK (SEHK: 301) in October 1995.<ref>{{Cite web |date=2002-10-31 |title=New World Infrastructure Limited 2002 Annual Report |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2002/1031/301/cwf101.pdf |access-date=2024-09-02 |website=The Stock Exchange of Hong Kong}}</ref> New World Services Limited (NWS) was then formed in April 1997 to integrate the group's service-related businesses.<ref>{{Cite web |title=NWS HOLDINGS Company Profile & Introduction - Moomoo |url=https://www.moomoo.com/stock/00659-HK/company |access-date=2024-09-02 |website=www.moomoo.com |language=en}}</ref> By July 1999, New World China Land Limited (NWCL) was launched to consolidate the group's property projects in Mainland China and was listed on SEHK (SEHK: 917).<ref>{{Cite web |date=2016-05-04 |title=新世界中国地产有限公司简介 |url=https://qh.sz.gov.cn/sygnan/qhzx/zthd_1/qhzc/gjgx/content/post_4416407.html |access-date=2024-09-06 |website=深圳市前海深港现代服务业合作区管理局}}</ref>

In September 2001, NWS purchased all outstanding shares of Ngo Kee Construction Company Limited.<ref>{{Cite web |title=Shanghainese Builders in Hong Kong (Part Five) – Ngo Kee and Sung Foo Kee/Lidell – The Industrial History of Hong Kong Group |url=https://industrialhistoryhk.org/shanghainese-builders-in-hong-kong-part-five-ngo-kee-and-sung-foo-keelidell/ |access-date=2024-09-06 |website=industrialhistoryhk.org}}</ref> A year later, Pacific Ports Company Limited (PPC) acquired NWI and took ownership of NWS from NWD.<ref>{{Cite web |title=Pacific Ports Company Limited Financial Review |url=https://www.hkexnews.hk/listedco/listconews/sehk/2001/0329/0659/f107.pdf |access-date=2024-09-06 |website=The Stock Exchange of Hong Kong Limited}}</ref>

Reorganization of New World Group was finalized in January 2003.<ref>{{Cite web |title=NWS Holdings Limited Annual Report 2003 |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2003/1030/00659/f123.pdf |access-date=2024-09-06 |website=The Stock Exchange of Hong Kong Limited}}</ref> Following a name change from Pacific Ports Company Limited, NWS Holdings Limited emerged as the group's service flagship, overseeing operations in services, infrastructure, and ports across Hong Kong, Macau, and Mainland China.<ref>{{Cite web |title=Circulars Relating to New World Group Reorganization |url=https://nws.com.hk/-/media/NWSCorp/Investment-World/Announcement/EN/2002/Circulars-relating-to-New-World-Group-Reorganization.pdf?rev=0ea59921341a4bc9ac3efaf4f1d74da6&hash=2ADD0EC16E7A85767850EB1EAEF6B4A3 |access-date=2024-09-10 |website=NWS Holdings Limited}}</ref> All group shares were consolidated under NWS Holdings Limited, which then commenced trading on SEHK.<ref>{{Cite web |title=Reorganization of New World Group |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2003/1030/00659/f104.pdf |access-date=2024-09-10 |website=The Stock Exchange of Hong Kong Limited}}</ref>

=== Recent Developments ===
New World Department Store China Limited (SEHK: 0825) went public on SEHK in July 2007.<ref>{{Cite web |title=New World Department Store China Limited Annual Report 2007 |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2007/1030/00017_241162/e111.pdf |access-date=2024-09-10 |website=The Stock Exchange of Hong Kong Limited}}</ref> The Guangzhou Dongxin Expressway—in which NWS Holdings owned a 40.8% ownership stake—officially inaugurated in December 2010.<ref>{{Cite web |title=新創建廣州東新高速開通 - 香港文匯報 |url=http://paper.wenweipo.com/2011/01/04/BN1101040008.htm |access-date=2024-09-10 |website=paper.wenweipo.com}}</ref>

In April 2015, NWD formed a 50-50 joint venture with HIP Company Limited, a subsidiary of The Abu Dhabi Investment Authority,<ref>{{Cite web |date=2015-04-30 |title=New World Development sells Hong Kong hotel stakes to Abu Dhabi investor for HK$18.5 billion |url=https://www.scmp.com/business/companies/article/1781486/new-world-development-sells-hong-kong-hotel-stakes-abu-dhabi |access-date=2024-09-13 |website=South China Morning Post |language=en}}</ref> to acquire the Grand Hyatt Hong Kong, Renaissance Harbour View, and Hyatt Regency TST with a deal valued at HK$18.5 billion, resulted in NWD receiving approximately HK$10 billion.<ref>{{Cite web |last=Venna |first=Srivani |date=2015-04-30 |title=New World Development to sell three hotels to Abu Dhabi Investment Authority for $2.4bn |url=https://www.hotelmanagement-network.com/news/newsnew-world-development-sell-hotels-abu-dhabi-investment-4566272/ |access-date=2024-09-13 |website=Hotel Management Network |language=en-US}}</ref> NWD then launched its new healthcare brand, Humansa, and acquired FTLife in November and December 2018, respectively.<ref>{{Cite web |title=信健康-- 高科技專業團隊結合醫養概念 Humansa仁山優社為熟齡及銀髮人士提供全方位專業服務 |url=https://health.hkej.com/health/article?suid=2311741&subjectline=%E9%AB%98%E7%A7%91%E6%8A%80%E5%B0%88%E6%A5%AD%E5%9C%98%E9%9A%8A%E7%B5%90%E5%90%88%E9%86%AB%E9%A4%8A%E6%A6%82%E5%BF%B5+Humansa%E4%BB%81%E5%B1%B1%E5%84%AA%E7%A4%BE%E7%82%BA%E7%86%9F%E9%BD%A1%E5%8F%8A%E9%8A%80%E9%AB%AE%E4%BA%BA%E5%A3%AB%E6%8F%90%E4%BE%9B%E5%85%A8%E6%96%B9%E4%BD%8D%E5%B0%88%E6%A5%AD%E6%9C%8D%E5%8B%99 |access-date=2024-09-13 |website=信健康}}</ref><ref>{{Cite web |date=2018-12-28 |title=Hong Kong's NWS Holdings to buy FTLife Insurance for $2.8 billion |url=https://www.reuters.com/article/world/europe/hong-kongs-nws-holdings-to-buy-ftlife-insurance-for-28-billion-idUSKCN1OR081/ |access-date=2024-09-13 |website=Reuters}}</ref>

In October 2020, the group revealed plans to conserve Hong Kong's 68-year-old State Theatre, a Grade I historic site,<ref>{{Cite web |title=Hong Kong's iconic State Theatre to be preserved under multibillion-dollar redevelopment plan |url=https://www.scmp.com/video/business/3098932/hong-kongs-iconic-state-theatre-be-preserved-under-multibillion-dollar |access-date=2024-09-19 |website=South China Morning Post}}</ref> partnering with local and international designers and artisans.<ref>{{Cite web |last=Soriano |first=Jianne |title=Adrian Cheng's New Project Aims To Conserve Hong Kong's Last Surviving Movie Palace |url=https://www.tatlerasia.com/power-purpose/philanthropy/adrian-cheng-hong-kong-conservation-movie-palace |access-date=2024-09-19 |website=Tatler Asia |language=en}}</ref> In that month, the group began selling THE PAVILIA FARM I, attracting 22,700 registrations in the first round,<ref>{{Cite web |date=2020-10-09 |title=New World Development launches Hong Kong project at lower-than-expected prices |url=https://www.scmp.com/business/article/3104909/new-world-development-launches-mega-hong-kong-project-lower-expected |access-date=2024-09-23 |website=South China Morning Post |language=en}}</ref> the highest for any residential property in Hong Kong since 1997.<ref>{{Cite web |last=Standard |first=The |title=Deja vu craze seen in Tai Wai home project |url=https://www.thestandard.com.hk/section-news/section/47192533/223895/Deja-vu-craze-seen-in-Tai-Wai-home-project |access-date=2024-09-23 |website=The Standard |language=en}}</ref> The group also committed over HKD 10 billion to create a large-scale cultural and retail complex in Prince Bay, Shenzhen.<ref>{{Cite web |last=Van |first=Tong |date=2022-07-19 |title=K11 unveils US$1.4 billion Shenzhen flagship project |url=https://insideretail.asia/2022/07/19/k11-unveils-us1-4-billion-shenzhen-flagship-project/ |access-date=2024-09-23 |website=Inside Retail Asia |language=en-US}}</ref>

In November 2020, NWD named its mixed-use development project within the SKYCITY complex at the Hong Kong International Airport "11 SKIES".<ref>{{Cite web |last=Standard |first=The |title=New World names airport project 11 Skies |url=https://www.thestandard.com.hk/section-news/section/2/224999/New-World-names-airport-project-11-Skies |access-date=2024-09-17 |website=The Standard |language=en}}</ref> NWD established Share for Good, Hong Kong's first large-scale crowd-donation platform in March 2022, to meet the immediate needs of the impoverished in the fifth wave of COVID-19.<ref>{{Cite web |date=2022-03-17 |title=New World's Share for Good platform fights Covid-19 with crowd donations |url=https://www.scmp.com/business/article/3170782/new-world-launches-crowd-donation-platform-share-good-hongkongers-give |access-date=2024-09-17 |website=South China Morning Post |language=en}}</ref> In collaboration with Rafa Nadal Academy, Hong Kong Golf & Tennis Academy welcomed Asia's first Rafa Nadal Tennis Center in July 2022.<ref>{{Cite web |title=Rafa Nadal Tennis Center Hong Kong |url=https://international.rafanadalacademy.com/en/hongkong_/ |access-date=2024-09-17 |website=RNA International |language=en-GB}}</ref>

NWD collaborated with 4 corporations in July 2023 to establish the first "Smart Community" in a transitional housing complex.<ref>{{Cite web |last=Standard |first=The |title=NWD joins hands with Microsoft and HKT to create "smart community" in transitional housing projects |url=https://www.thestandard.com.hk/breaking-news/section/4/206096/NWD-joins-hands-with-Microsoft-and-HKT-to-create-%22smart-community%E2%80%9D-in-transitional-housing-projects |access-date=2024-09-19 |website=The Standard |language=en}}</ref> NWD signed Hong Kong's first "Project Cooperation Agreement regarding Northern Metropolis" in December 2023, to develop a commercial and residential project in the Northern Metropolis with CR Land.<ref>{{Cite web |last=Standard |first=The |title=NWD to construct 2,000 homes in Northern Metropolis with China Merchants Shekou |url=https://www.thestandard.com.hk/breaking-news/section/4/216138/NWD-to-construct-2,000-homes-in-Northern-Metropolis-with-China-Merchants-Shekou |access-date=2024-09-19 |website=The Standard |language=en}}</ref>

In 2024, NWD reported a HK$19.7 billion net loss for the year ended 30 June, the worst since the company was founded in 1970. [[Adrian Cheng|Adrian Cheng Chi-Kong]], the grandson of Cheng Yu-tung, was forced to step down as CEO in September. In December, NWD was kicked out of the Hang Seng Index (HSI).<ref name=":4">{{Cite web |date=2024-11-22 |title=New World Development ejected from Hang Seng Index |url=https://www.scmp.com/business/china-business/article/3287785/new-world-development-loses-blue-chip-status-ejection-hang-seng-index |access-date=2024-12-23 |website=South China Morning Post |language=en}}</ref> In the same month of being kicked out of HSI, Debtwire reported that NWD have sent out a letter to its bank lenders, seeking a waiver on loan conditions. NWD was seeking forbearance, after its net debt-to-assets ratio breached the 100 per cent threshold that may allow its lenders to recall their loans.<ref>{{Cite web |date=2024-12-17 |title=New World Development takes more beating in market as debt crisis lingers |url=https://www.scmp.com/business/article/3291231/new-world-loses-more-market-value-developer-strives-contain-debt-crisis |access-date=2024-12-23 |website=South China Morning Post |language=en}}</ref>