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New World Development Faces Tenant Losses at HK$20 Billion Airport Mall Amid Hong Kong Retail Challenges

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New World Development is experiencing difficulties at its HK$20 billion ($2.6 billion) airport mall in Hong Kong, with multiple tenants terminating leases. Meanwhile, Lifestyle International Holdings is negotiating with banks to refinance a HK$8 billion ($1.03 billion) loan, following relaxed terms from lenders due to ongoing earnings pressures.

The refinancing proceeds will help address a loan maturing in June, secured against the Sogo department store in Causeway Bay. In Singapore, Orchard Shopping Centre owners are reportedly considering a collective sale.

Additionally, NTT Global Data Centers has signed a 100-megawatt power purchase agreement for its Bangkok 4 Data Center, scheduled for energization in the second quarter of 2027. The Seoul housing market continues to rise, marking its 51st consecutive week of price increases amid economic contraction concerns.

New World Development Faces Tenant Losses at HK$20 Billion Airport Mall Amid Hong Kong Retail Challenges
Jan 24, 2026, 6:13 AM

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