|Mar 24, 2017|
|Mar 24, 2017|
Currency in HKD
Real Estate Development
|Full time employees:||45,000|
New World Development Co. Ltd. operates as an holding company, which engages in the property development and investment businesses. It operates through the following business segments: Property Development, Property Investment, Service and Infrastructure, Hotel Operations, Department Stores and Others. The Property Development segment focuses on the residential usage of company properties in China and Hong Kong. The Property Investment segment handles lands and buildings that are for lease or rent. The Service segment comprises of facilities management, contracting and transport, and strategic investments. The Infrastructure segment includes development of roads and ports, and energy, water and logistics projects. The Hotel Operations segment manages major hotel projects in Hong Kong, namely, Grand Hyatt Hong Kong, Hyatt Regency Hong Kong, Tsim Sha Tsui, Hyatt Regency Hong Kong, Sha Tin and Renaissance Harbour View Hotel. The Department Store segment operates department store retail chain in China. The Others segment includes media and technology businesses. The company was founded on May 29, 1970 and is headquartered in Hong Kong.
New World Development is a Hong Kong conglomerate mainly focused on property development, hotels, department stores, infrastructure and services. The company operates businesses in more than 50 cities in Asia with a total asset value of 300 billion Hong Kong dollars ($39.4 billion).
It owns three listed companies -- New World China Land, NWS Holdings and New World Department Store China. The company is expanding its businesses in mainland China, investing $16 billion in more than 20 provinces across the country.
New World Development plans to improve the efficiency of the group's hotel operations. In 2015, it sold interests in three upscale hotels to a joint venture with Abu Dhabi Investment Authority for HK$18.5 billion. The hotels are Grand Hyatt Hong Kong, Renaissance Harbour View, and Hyatt Regency TST.
Hong Kong billionaire Henry Cheng Kar-shun became chairman of New World Development in 2012. His family holds a 42% stake in the company as the largest shareholder. He also leads Chow Tai Fook Jewellery Group, Hong Kong's largest jewelry retailer.
In the news
March 24, 2017 2:23 pm JST
March 15, 2017 7:35 pm JST
March 14, 2017 8:48 pm JST
March 14, 2017 7:50 pm JST
March 14, 2017 2:51 pm JST
March 9, 2017 7:30 pm JST
March 9, 2017 2:05 pm JST
- Local currency
- US Dollar
|Income before tax||16,046.6M|
|Dividends per share||0.44|
|Operating cash flow||3,086.6M|
Currency in HKD
|Income before tax||2,068.00M|
|Dividends per share||0.05|
|Operating cash flow||397.78M|
Currency in USD
- Chairman & Managing Director: Kar Shun Cheng
- Executive Vice Chairman & Joint General Manager: Chi Kong Cheng
- Joint General Manager & Executive Director: Guan Zhan Chen
- Executive Director, Head-Finance & Accounts: Tak Cheong Au
- Senior Director-Sales & Marketing: Melvin Yeo Woon
- Cheng Yu Tung Family Ltd.(44.2%)
- The Vanguard Group, Inc.(1.3%)
- BlackRock Fund Advisors(0.9%)
- Norges Bank Investment Management(0.9%)
- Hang Seng Investment Management Ltd.(0.7%)
- Dimensional Fund Advisors LP(0.6%)
- State Street Global Advisors Asia Ltd.(0.6%)
- JPMorgan Whitefriars (UK)(0.5%)
- DOO WAI HOI(0.4%)
- APG Asset Management NV(0.4%)
- Website: http://www.nwd.com.hk
- Address: 30/F, New World Tower, 18 Queen's Road Central, Hong Kong, Hong Kong
- Phone: +852.2523.1056
Copyright © 2017 FactSet Research Systems Inc. All rights reserved.