Deep Water Pavilia II launches 80 flats with 4pc price hike
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South China Morning Post
2 days ago
- South China Morning Post
Hong Kong seeks new partner to get 11 Skies back on track amid New World's debt: sources
Airport Authority Hong Kong is in talks with New World Development (NWD) to get a massive commercial property project at the heart of Hong Kong's international airport back on track, according to several sources familiar with the matter. Advertisement The authority is considering the option of seeking a new partner to undertake and complete the work at 11 Skies shopping centre, which was awarded in 2018, the sources said. The financial terms of the move are still under negotiation, they said, declining to be identified for discussing a confidential matter. The move, viewed as a win-win solution for both parties, would offer relief to NWD, which is undergoing the biggest debt workout in three generations of ownership by the Cheng family. For the authority, it ensures that the city's status as an aviation and tourism hub is shielded from the developer's debt woes. The major sticking point in the talks is the potential compensation due to the authority for the 40-year contract, one of the sources said. NWD is under contract to pay the authority HK$1.8 billion (US$229.3 million) every year in guaranteed rent, the sources said. The authority's press office and spokespeople at NWD did not respond to requests for comment. The blueprint for Airport City – including 11 Skies – was first unveiled in 2019. Photo: Airport Authority of Hong Kong The project, with 3.8 million sq ft (353,000 square metres) of gross floor area, is part of the airport authority's SkyCity master plan , which combines shopping, entertainment, dining, commercial offices and several hotels in a 25 hectare (61.8 acre) area to undergird Hong Kong's status as Asia's aviation and international travel hub. The talks are focused on the retail, dining and entertainment space of 11 Skies, according to a source. The project also features three office towers that are not within the scope of discussion.
The Standard
2 days ago
- The Standard
Deep Water Pavilia II closes registration nearly 21 times oversubscribed
Cannas Ho, director of sales and marketing for special projects at New World Development, first left. SINGTAO
South China Morning Post
3 days ago
- South China Morning Post
The Growth Conversation: McDonald's Hong Kong's Tina Chao
In the fast-paced world of marketing, Tina Chao has propelled McDonald's Hong Kong from a fast-food chain into a cutting-edge brand that resonates with Generation Z. As the chief marketing and digital customer experience officer at McDonald's Hong Kong, her journey – from a finance trainee at an oil company to leading some of the brand's most innovative campaigns – reflects her curiosity and forward-thinking approach. Chao's career began at Shell, where a graduate training programme exposed her to the many facets of business operations. 'Every three or four years, I rotated to a different role,' she says. 'It was like joining a new company, but within the same culture.' This system sparked her interest in marketing, which would later shape her career. Tina Chao, chief marketing and digital customer experience officer, McDonald's Hong Kong Her fascination with advertising began in her childhood, when she would eagerly watch Hong Kong's most prestigious advertising awards – the Kam Fan Awards – on television. 'I was always fascinated by advertising,' she says. 'I was always interested to see what works best.' This early fascination planted the seeds for her future in brand storytelling. After her time at Shell and the Hong Kong Tourism Board, Chao was drawn to McDonald's Hong Kong by its strong marketing heritage. She saw the chance to reimagine McDonald's Hong Kong's identity by leveraging digital tools. Her goal was to reconnect with Gen Z while honouring the brand's local heritage and global recognition.
