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Airport Authority terminates 11 Skies contract with New World Development

By PulseAugur Editorial · [1 sources] ·

The Airport Authority has terminated a long-term contract with New World Development Company Limited for the 11 Skies commercial project. This decision was made to avoid a "lose-lose situation" due to New World Development's financial difficulties. The authority aims to expedite the project's development, with most facilities scheduled to open in 2028. AI

RANK_REASON Contract termination between two entities for a commercial project.

Read on SCMP — Tech →

AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Airport Authority terminates 11 Skies contract with New World Development

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Contract termination between two entities for a commercial project.
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9 days old
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COVERAGE [1]

  1. SCMP — Tech TIER_1 English(EN) · Denise Tsang ·

    Cutting New World ties over 11 Skies averts ‘lose-lose’ deal: Airport Authority

    The Airport Authority has averted a “lose-lose situation” by terminating a nearly 50-year contract with Hong Kong developer New World Development for the 11 Skies commercial project, with most facilities set to open in 2028, the statutory body’s directors have said. Julian Lee Pu…

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