New World Development has secured financial support from the billionaire Cheng family after a significant impairment on an integrated project at Hong Kong Airport drove the company to a US$3.6 billion loss for the fiscal year.

According to a filing submitted on Wednesday, Chow Tai Fook Enterprises, the largest shareholder of the troubled Hong Kong property developer, stated it is prepared to provide support to the company. While the commitment remains somewhat general in nature, it confirms investors' earlier expectations that the Cheng family behind New World would stand behind the firm.

New World Development (ASX: 00017) recorded an impairment of HK$18.3 billion (US$2.33 billion) after terminating its agreement with Hong Kong Airport authorities regarding the management of a retail and office complex.

Under a separate statement from the Airport Authority Hong Kong, as part of the early termination arrangement, New World Development will pay HK$3 billion to the authority and hand over three office towers and an entertainment venue at 11 SKIES in April.

The property developer, which came close to collapse in 2025 amid a debt crisis, has now reported a loss of HK$28.1 billion, closing out yet another turbulent fiscal year.

Over the past year, New World Development has struggled with asset sales and securing new liquidity, as a heavy debt burden and slow progress on divestments have intensified pressure to repair its balance sheet.