New World was pushed to the brink of default last year after a debt-fuelled expansion collided with a deep property slump in Hong Kong and China. New World shares slid 5.2% as of 11.05am in Hong Kong. Within Hong Kong’s tycoon world, family legacy is honored, and future generations are responsible for protecting and carrying on the business. It also calls into question the role foreign investors play in helping to revive Hong Kong’s property market. The firm has built scores of apartment blocks throughout the city and owns iconic assets including the sprawling Victoria Dockside complex along Hong Kong’s harbour.

Source: The Edge Markets March 04, 2026 03:38 UTC