New World Development Co Ltd 00017.HK

NEW WORLD DEV (00017.HK) is a Hong Kong-based property and infrastructure developer and construction company with additional interests in retail, hotels and serviced apartments. Founded in 1970, the company is a component of the Hang Seng index and has been listed on the Hong Kong Stock Exchange since 1972.
New World Development has two independently listed subsidiaries, NWS Holdings and New World Department Store China. It also has one wholly-owned subsidiary – New World China Land.

New World Development is itself also a subsidiary of the Chow Tai Fook Holding, a privately-owned conglomerate also based in Hong Kong.

The company is one of Hong Kong’s leading property developers and one of mainland China’s largest foreign direct investors. By 2018, New World Development’s investments across China, spread over 20 provinces, were valued at over $16 billion.

The company’s largest property development transaction to date outside of Hong Kong and China is the Riverside South luxury condominium project in New York City. The land was acquired from Donald Trump for $1.8 billion – then the largest land deal for a residential project in the city’s history.

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