New World China Land
Script error: No such module "redirect hatnote". Template:Use Hong Kong English Template:Use dmy dates Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". New World China Land Limited is a wholly owned subsidiary of Hong Kong–based conglomerate New World Development, itself part of Chow Tai Fook group. New World China Land was spin off from New World Development in 1999 as a separate listed company.[1] However, it was privatized again by New World Development in 2016.[2] New World China Land is headquartered in 9/F, New World Tower 1, on 8 Queen's Road Central, Hong Kong Island.
History
New World China Limited is a company incorporated in the Cayman Islands as an exempted company, the legal name for the offshore company in that territory, on 28 August 1996.[3]Template:Rp The company was registered in Hong Kong as a "registered non-Hong Kong company" on 17 May 1999.[4] It became a listed company on 16 July 1999 as New World China Land Limited,[3]Template:Rp which owned the China part of the real estate division of New World Development (NWD Group), a blue-chip listed company of Hong Kong. New World China Land owned some hotels that was independent from another sub-holding company, New World Hotels (Holdings), a former listed company of NWD Group.
In 2011, New World China Land, via New World Hotel Management (BVI) Limited, trading as New World Hospitality, acquired the hotel management company Rosewood Hotels & Resorts for US$229.5 million (approx. HK$1.79 billion).[5][6] In 2013, New World Hospitality (New World Hotel Group) was renamed to Rosewood Hotel Group.[7][8]
In July 2015, New World China Land sold its hotel management business, New World Hotel Management (BVI) Limited and subsidiaries, to parent company Chow Tai Fook Enterprises for HK$1.96 billion.[9][10] According to the press release, it included Rosewood and two other brands New World and penta.[9]
In December 2015, New World China Land sold three portfolios to fellow Chinese developer Evergrande Group, for RMB13.5 billion (HK$16.36 billion).[11][12]
In 2016 New World China Land was privatized by New World Development.
Legacy
After the privatization of New World China Land, its parent company New World Development continued to use the brand New World China in some project, such as New World China Land's Wuhan Chow Tai Fook Finance Centre.[13] Also, New World Development (China) Limited is a live subsidiary of the NWD group, which sold two hotels in 2017.[14][15]
See also
References
<templatestyles src="Reflist/styles.css" />
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ a b Script error: No such module "citation/CS1".
- ↑ Data in the Hong Kong Companies Registry
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ a b Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
Script error: No such module "Check for unknown parameters".
External links
- Script error: No such module "Official website".Script error: No such module "Check for unknown parameters".
Template:New World DevelopmentTemplate:Real estate companies of China
- Pages with script errors
- Companies formerly listed on the Hong Kong Stock Exchange
- Holding companies established in 1996
- 1996 establishments in the Cayman Islands
- 1999 establishments in Hong Kong
- Real estate companies of China
- Civilian-run enterprises of China
- New World Development subsidiaries
- Offshore companies of the Cayman Islands
- Holding companies of Hong Kong