New world development
New World Development Company Limited, commonly known as New World Development, is a Hong Kong-based conglomerate with a diverse portfolio of businesses. Here are some key facts about the company:
History: New World Development was founded in 1970 by Henry Fok, a Hong Kong businessman. The company was listed on the Hong Kong Stock Exchange in 1972.
Business Segments: New World Development has a diverse range of businesses, including:
- Property Development: The company develops and invests in residential, commercial, and industrial properties in Hong Kong, mainland China, and other countries.
- Property Investment: New World Development invests in and manages a portfolio of properties, including office buildings, shopping centers, and hotels.
- Infrastructure and Utilities: The company invests in and operates infrastructure projects, such as power plants, water treatment facilities, and transportation systems.
- Hotels and Tourism: New World Development owns and operates a number of hotels, including the Marco Polo Hotels and the New World Millennium Hotels.
- Financial Services: The company provides financial services, including banking, insurance, and asset management.
Notable Projects: Some of New World Development's notable projects include:
- West Kowloon Cultural District: The company is developing a major cultural district in West Kowloon, which will feature museums, performance venues, and public spaces.
- Hong Kong Disneyland: New World Development is a partner in the development and operation of Hong Kong Disneyland.
- Shanghai Disney Resort: The company is a partner in the development and operation of Shanghai Disney Resort, which includes a theme park, hotels, and shopping centers.
Awards and Recognition: New World Development has received numerous awards and recognition for its business practices, sustainability initiatives, and community engagement. Some notable awards include:
- Best Developer in Asia: New World Development was named the Best Developer in Asia by the Asia Property Awards in 2019.
- Sustainability Leadership Award: The company received the Sustainability Leadership Award at the 2019 Hong Kong Sustainability Awards.
- Community Engagement Award: New World Development was awarded the Community Engagement Award at the 2018 Hong Kong Corporate Social Responsibility Awards.
Financial Performance: New World Development is a publicly listed company with a market capitalization of over HKD 100 billion (approximately USD 13 billion). The company has a strong financial performance, with a revenue of HKD 54.4 billion (approximately USD 7 billion) in 2020.