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