Hong Kong’s New World Clan Bets on Property Rebound for Lifeline

Unwilling to cede control over New World Development Co., Hong Kong’s billionaire Cheng family is now betting on the revival of the city’s property market and mulling options like a...

By Shirley Zhao, Trista Xinyi Luo, Pearl Liu, Shawna Kwan · Bloomberg Markets

Unwilling to cede control over New World Development Co., Hong Kong’s billionaire Cheng family is now betting on the revival of the city’s property market and mulling options like a public share sale to meet the embattled developer’s debt obligations.