New World Development sells Hong Kong sports park stake to parent to tackle debt

Quick Summary:

Stake in New World Sports Development, the developer of Kai Tak Sports Park, sold to Chow Tai Fook Enterprises for US$53.5 million.

Before that, it sold the D-Park Shopping Centre and car-parking spaces in Tsuen Wan to rival Chinachem Group for HK$4.02 billion.

New World has sold many assets recently, including the D Park shopping centre in Tsuen Wan.

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Article Details

Author / Journalist: Yuke Xie

Category: Business

Markets: Hong KongChina

Topics: World Chow Billion Developer Sports Sold Park Government Development Fook Stake

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-29 @ 06:30:08 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 270 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23932140

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