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NEW WORLD DEV (00017.HK): No Agreement Yet Reached with Airport Authority on 11 SKIES Project
2026-05-14 08:06:13 NEW WORLD DEV (00017.HK) announced that it has noted recent media reports speculating on potential investments in the company, the Group's "11 SKIES" project and its financing arrangements. The company clarified that there has been no material progress regarding the matters set out in the announcement published on January 30 this year; and it has not entered into any agreement with any potential investor, including in respect of the amount, nature or form of any such potential investment in the company. Regarding the Group's "11 SKIES" project, the company has been in discussions with the Hong Kong Airport Authority to review and/or explore the possibility of any changes to the contractual arrangements of the "11 SKIES" project. Such discussions are still ongoing, and the company has not reached any agreement with the Airport Authority on any changes to the contractual arrangements of the "11 SKIES" project. As for the Group's financing arrangements, the Group will manage its financing arrangements with lenders in the ordinary course of business and is not aware of any deadline for resetting the Group's financing terms. Earlier, the South China Morning Post cited sources as reporting that the Airport Authority had taken over 70% control of the "11 SKIES" project, involving 2.66 million square feet of retail and dining space, though it was unclear whether the Airport Authority would take over the remaining 0.57 million square feet of entertainment space and offices. The Airport Authority did not deny the report. A spokesperson said it is maintaining close communication with the developer NEW WORLD DEV regarding the "11 SKIES" project. The Airport Authority is pressing ahead with the SKYTOPIA (Airport City) project, and the positioning of "11 SKIES" will align with the overall development of SKYTOPIA to generate synergies. The year 2028 will be an opportune time for "11 SKIES" to commence phased operations in tandem with SKYTOPIA. AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |