Market Chatter: New World Development Could Face More Losses with Dismal Pricing, High Land Costs of Projects

MT Newswires Live2024-12-10

New World Development (HKG:0017) could face more losses with two of its upcoming projects in Hong Kong, the South China Morning Post reported Monday, citing analysts.

The developments in North Point and Wong Chuk Hang could incur losses due to high land costs and dismal pricing, the report said.

This is just among the problems new chief executive officer Echo Huang Shaomei could face, the report said.

One project, the 101 King's Road residential tower, could potentially break even, the report said, citing JLL Hong Kong Chairman Joseph Tsang.

(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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