{"id":118204,"date":"2020-08-12T17:45:43","date_gmt":"2020-08-12T10:45:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-world-development-to-pay-us592-million-for-shanghai-site-in-first-major-deal-by-scion-of-hong-kong-property-empire\/"},"modified":"2020-08-12T18:03:25","modified_gmt":"2020-08-12T11:03:25","slug":"new-world-development-to-pay-us592-million-for-shanghai-site-in-first-major-deal-by-scion-of-hong-kong-property-empire","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-world-development-to-pay-us592-million-for-shanghai-site-in-first-major-deal-by-scion-of-hong-kong-property-empire\/","title":{"rendered":"New World Development to pay US$592 million for Shanghai site in first major deal by scion of Hong Kong property empire"},"content":{"rendered":"


\nNew World Development is developing a prime commercial site in Shanghai in the first major deal in mainland China by the heir to Hong Kong\u2019s fourth-largest property group.The Hong Kong-listed developer won the bid for a 17,170 square metre (184,817 sq ft) land parcel located at Middle Huaihai Road for 4.11 billion yuan (US$592 million), according to a company announcement on late Tuesday. The site sits along the city\u2019s most expensive shopping belt fashioned after Avenue des Champs-Elys\u00e9es in\u2026
\n
\nSource : South China Morning Post
\nRead more…New World Development to pay US2 million for Shanghai site in first major deal by scion of Hong Kong property empire<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New World Development is developing a prime commercial site in Shanghai in the first major...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-118204","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uKw","jetpack-related-posts":[{"id":114220,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-world-development-puts-harvard-educated-scion-in-charge-of-china-flagship-unit-amid-succession-plan-at-hong-kong-property-empire\/","url_meta":{"origin":118204,"position":0},"title":"New World Development puts Harvard-educated scion in charge of China flagship unit amid succession plan at Hong Kong property empire","date":"February 12, 2020","format":false,"excerpt":"\r New World Development has appointed Adrian Cheng Chi-kong as head of its property business in mainland China, entrenching his position as the next-generation successor at Hong Kong\u2019s third-largest hotel-and-property empire by market value.Cheng has been named the executive chairman of New World China Land, the group\u2019s flagship property arm\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/scion-of-hong-kong-warehousing-firm-tai-sang-steps-up-hospitality-foray-with-wong-chuk-hang-hotel\/","url_meta":{"origin":118204,"position":1},"title":"Scion of Hong Kong warehousing firm Tai Sang steps up hospitality foray with Wong Chuk Hang hotel","date":"July 11, 2021","format":false,"excerpt":"\r Justin Ma, the 29-year-old heir of the family that controls Tai Sang Land Development, hopes to ramp up investment in hospitality, in a break from the investment strategy of the 53-year-old company, which is better known for industrial buildings, shops and office buildings in Hong Kong.Ma founded Yulan Group,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":172606,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developer-new-world-gets-nod-to-spin-off-k11-shanghai-assets\/","url_meta":{"origin":118204,"position":2},"title":"Hong Kong developer New World gets nod to spin off K11 Shanghai assets","date":"September 21, 2026","format":false,"excerpt":"\r New World Development (NWD) received the green light from the Shanghai Stock Exchange to spin off and list a Reit (real estate investment trust) on the bourse, according to the distressed developer controlled by one of Hong Kong\u2019s wealthiest families. The expected offering size for the NWD C-Reit was\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70716,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shanghai-property-developer-future-land-eyes-co-living-opportunities-in-hong-kong\/","url_meta":{"origin":118204,"position":3},"title":"Shanghai property developer Future Land eyes co-living opportunities in Hong Kong","date":"November 2, 2017","format":false,"excerpt":"\r Shanghai-based Future Land Development has set its sights on Hong Kong\u2019s co-living spaces. The Chinese developer, which builds homes in 40 cities across the mainland, said on Wednesday it has invested around HK$500-HK$600 million this year in two residential and commercial projects each. The residential projects will be turned\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":172696,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adrian-cheng-former-scion-of-hong-kongs-nwd-expands-k11-brand-in-xiamen\/","url_meta":{"origin":118204,"position":4},"title":"Adrian Cheng, former scion of Hong Kong\u2019s NWD, expands K11 brand in Xiamen","date":"October 5, 2026","format":false,"excerpt":"\r Adrian Cheng Chi-kong, former heir apparent to Hong Kong\u2019s New World Development (NWD), is expanding his K11 cultural retail business in mainland China, launching a venture of his own as his family\u2019s property group grapples with heavy debt. Xiamen K11 Select, developed by Cheng\u2019s K11 by AC Group along\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119243,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-worlds-harvard-educated-scion-upends-his-grandfathers-build-and-sell-business-model-as-hong-kong-sits-at-crossroads\/","url_meta":{"origin":118204,"position":5},"title":"New World\u2019s Harvard-educated scion upends his grandfather\u2019s \u2018build and sell\u2019 business model as Hong Kong sits at crossroads","date":"November 14, 2020","format":false,"excerpt":"\r Cheng Yu-tung, one of Hong Kong\u2019s best-known tycoons, spared no expense when he led a 1985 effort to build a harbourfront convention centre to host the city\u2019s return to Chinese sovereignty 12 years later.Construction activity on the US$322 million project was a gesture of confidence in a city clawing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118204"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=118204"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118204\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=118204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=118204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=118204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}