New World

New World Development is a prominent Hong Kong-based property developer with a significant presence in the region. The company is currently in the news due to a recent development concerning its retail and entertainment operations at the 11 Skies project at Hong Kong International Airport. Sources indicate that the Airport Authority has taken over key components of this 2.66 million sq ft retail and dining space, representing 70% of the development, ahead of the second passenger terminal's opening. This handover signifies a shift in operational control for a major upcoming commercial hub. While the articles do not provide extensive background on New World Development's broader business, this specific event highlights its role in large-scale infrastructure and commercial projects within Hong Kong's aviation sector and its ongoing involvement in significant property developments.