New World's 11 Skies reportedly up for sale

16-07-2025 17:42 HKT

11 Skies was designed to be a one-stop entertainment, retail, and commerce landmark in Hong Kong with more than 800 shops and 120 dining establishments, according to New World's website.

Distressed Hong Kong builder New World Development (0017) is exploring a sale of its flagship 11 Skies mall to ease liquidity pressure, Bloomberg reported, citing sources.

The report said the developer has held preliminary talks with the Hong Kong Airport Authority, though both parties declined to comment.

The mall is valued between HK$15 billion and HK$17 billion, potentially below the HK$20 billion New World invested in the project, suggesting a loss-making sale, the newspaper cited sources.

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New World Development 11 Skies Bloomberg Airport Authority commercial retail real estate

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