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South China Morning Post·Hong Kong·Monday, September 21, 2026 at 12:00 PM

Hong Kong developer New World gets nod to spin off K11 Shanghai assets

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New World Development (NWD) received the green light from the Shanghai Stock Exchange to spin off and list a Reit (real estate investment trust) on the bourse, according to the distressed developer controlled by one of Hong Kong’s wealthiest families.

The expected offering size for the NWD C-Reit was about 3.82 billion yuan (US$570 million), from which the group’s estimated net proceeds would be 3.24 billion yuan, Hong Kong-based NWD said in a statement on Monday. The underlying assets of the Reit comprise the Shanghai K11 Art Mall and the Shanghai K11 Atelier New World Tower.

The assets, located on Huaihai Road Central in Shanghai’s Huangpu district, have a gross floor area of 130,384 square metres (1.4 million square feet). NWD was the indirect whole owner of the properties, the company added.

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