New World Development's Grade A commercial building at 888 Lai Chi Kok Road in Cheung Sha Wan is expected to be completed in April 2022. (Picture: New World Development)SINGAPORE (EDGEPROP) - Hong Kong developer New World Development has sold three floors from its upcoming Grade A commercial building at 888 Lai Chi Kok Road in Cheung Sha Wan, Hong Kong.Read also: Hong Kong home prices slip from all-time high amid concerns about stock market wealth, policy speculationAccording to a press release,
HONG KONG (Reuters) -Hong Kong property developer New World Development said on Thursday it would launch a research project to tackle a chronic housing shortage and sky-high home prices in one of the world's most expensive property markets. As part of the initiative, New World said a committee would study long-standing housing issues, ranging from unaffordable prices, longed waiting times for public housing and a lack of elderly-friendly homes as the population ages. "Solving Hong Kong's deep-rooted housing issue is fundamental to the city's future growth," Adrian Cheng, chief executive of New World and chairman of the initiative, New World Build for Good, said in a statement.
A global rout in stock markets sparked by concerns over China Evergrande Group hit the world’s biggest fortunes, with the richest 500 people losing a combined US$135 billion.