New World Development (00017) announced on September 17, 2026, that GF Fund Management Co., Ltd., acting as the fund manager, has submitted registration and listing application materials to the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange (SSE) for a publicly offered commercial real estate investment trust (REIT).
The proposed spin-off involves an independent listing of the REIT on the SSE, with the underlying asset being the Shanghai Hong Kong New World Tower, a mixed-use property located at 300 Huaihai Middle Road, Huangpu District, Shanghai. This property comprises the Shanghai K11 Art Mall and the Shanghai K11 ATELIER New World Tower.
As of the announcement date, the asset is indirectly wholly owned by the company through Shanghai New World Huaihai Property Development Co., Ltd.