Latest news with #megaMall
Bloomberg
3 days ago
- Business
- Bloomberg
New World's Slow-Moving Mega Mall Project Adds to Debt Concerns
New World Development Co. executives are growing concerned about prospects for their $2.6 billion mega-mall project near Hong Kong's airport, people familiar with the matter said, adding to challenges at the property conglomerate as it tries to navigate a cash crunch. The concerns have centered around slow preparation work by tenants to move into the 11 Skies mall, signs that carriers are reluctant to shift flights to Hong Kong's second airport terminal adjacent to the shopping center, and a tepid economic outlook that threatens tourist spending, the people said, asking not to be named discussing private information.
Bloomberg
28-05-2025
- Business
- Bloomberg
NJ's American Dream Mall Sees Value Drop by $800 Million in 2025
The value of the American Dream mega mall and entertainment complex in New Jersey's Meadowlands plummeted by $800 million — a blow to municipal bondholders whose debt is backed by payments in lieu of property taxes. The 3.5 million square-foot venue, which includes an amusement park, water park and ski slope, was assessed at $2.5 billion by the Borough of East Rutherford for the quarter ending June 30, according to a revised tax bill posted late Tuesday on the Municipal Securities Rulemaking Board 's EMMA website. The mall's previous value was estimated at $3.3 billion.
