Market Chatter: New World Development in Talks to Cut Rent at 11 Skies Mall Amid Liquidity Strain

MT Newswires Live

Sep 23

New World Development (HKG:0017) is negotiating with Hong Kong's Airport Authority to ease lease commitments at its 11 Skies complex, Bloomberg News reported Monday, citing people familiar with the matter.

The talks reportedly include waiving part of the HK$1.8 billion annual guaranteed rent due from 2028, though New World would still share project revenue with the authority.

One option under discussion is giving the authority a stake in the HK$20 billion project, according to the report.

The discussions come after New World secured an $11 billion refinancing to avert default and continue efforts to ease its debt load through asset sales, including the largely vacant 11 Skies mall.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00017","symbol_name":"新世界发展","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2569475034","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2569475034","pubTimestamp":1758594382,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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