New World Development Says It's 'Business as Usual' Despite Default Rumors

MT Newswires Live

2025/01/24

New World Development (HKG:0017) said it will proceed with real estate development and project launches despite rumors the company is headed for a default, according to a Thursday news release.

The embattled developer said it is still business as usual for them, according to a separate Thursday disclosure to the Hong Kong Exchange.

It will continue to "market its diversified projects" in mainland China, the developer said.

New World "has been proactively managing its financial indebtedness," it said, adding it has refinanced HK$17.8 billion of its bank loans.

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