Hong Kong’s New World Development Faces Turmoil Amid Debt Woes and Leadership Shake-Up
Hong Kong’s New World Development, long considered a stable pillar among the city’s “big four” property dynasties, is facing mounting challenges as it grapples with debt concerns, leadership transitions, and liquidity pressures. In a tumultuous week, the company pledged $15 billion worth of prized assets as collateral for loans, addressed...