Hong Kong developer New World Development (NWD) is making 28 units of its Pavilia Rosa project in Kowloon Tong available to buyers on Friday, a test of sentiment and demand in the city’s residential property market amid a slumping Hang Seng Index. NWD said the flats would be sold via a regular price list on a “first come, first served” basis as the developer announced that the project had so far sold 42 residences worth about HK$2.4 billion (US$127.6 million) via a tender. The launch on Friday...
The authority managing Hong Kong International Airport has taken over the retail and entertainment operations of 11 Skies from New World Development ahead of the opening of the second passenger terminal, the South China Morning Post has learned. Multiple sources said the Airport Authority had assumed control of key components of the 2.66 million sq ft retail and dining space, representing 70 per cent of the entire project. But it remains unclear if the authority has also taken over the rest of...