New World China Land
Encyclopedia
New World China Land Limited is the Mainland China
property
flagship
of Hong Kong
's New World Development
, owned by Dr. Cheng Yu-tung
's family.It is incorporated in the Cayman Islands
with limited liability. It is engaged in property development projects in Mainland China, including property sales
, rental operations, hotel
operations and property management
services. Its chairman is Henry Cheng
, the son
of Cheng Yu-tung.
It was listed on the Hong Kong Stock Exchange
in 1999 from its parent company
, New World Development.
Mainland China
Mainland China, the Chinese mainland or simply the mainland, is a geopolitical term that refers to the area under the jurisdiction of the People's Republic of China . According to the Taipei-based Mainland Affairs Council, the term excludes the PRC Special Administrative Regions of Hong Kong and...
property
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
flagship
Flagship
A flagship is a vessel used by the commanding officer of a group of naval ships, reflecting the custom of its commander, characteristically a flag officer, flying a distinguishing flag...
of Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
's New World Development
New World Development
New World Development Company Limited , based in Hong Kong, is active in property, infrastructure, services and telecommunications. It was established in 1970 with Dr Ho Sin Hang as Chairman and Chow Chi Yuen as Director and General Manager...
, owned by Dr. Cheng Yu-tung
Cheng Yu-tung
Cheng Yu-tung GBM is a Hong Kong billionaire with extensive business dealings and real estate interests in both Hong Kong and Macau. He owns the privately-held Chow Tai Fook Enterprises, a conglomerate which operates the Sheraton Marina hotel and controls the publicly listed New World group...
's family.It is incorporated in the Cayman Islands
Cayman Islands
The Cayman Islands is a British Overseas Territory and overseas territory of the European Union located in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac, and Little Cayman, located south of Cuba and northwest of Jamaica...
with limited liability. It is engaged in property development projects in Mainland China, including property sales
Sales
A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....
, rental operations, hotel
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
operations and property management
Property management
Property management is the operation, control of ususally on behalf of an owner, and oversight of commercial, industrial or residential real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its usable life and condition...
services. Its chairman is Henry Cheng
Henry Cheng
Dr. Henry Cheng Kar-shun ; born 1946, Hong Kong), GBS, is a Hong Kong entrepreneur and billionaire.The elder son of Dr...
, the son
Son
A son is a male offspring; a boy or man in relation to his parents. The female analogue is a daughter.-Social issues regarding sons:In pre-industrial societies and some current countries with agriculture-based economies, a higher value was, and still is, assigned to sons rather than daughters,...
of Cheng Yu-tung.
It was listed on the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
in 1999 from its parent company
Parent company
A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company...
, New World Development.
See also
- Real estate in the People's Republic of ChinaReal estate in the People's Republic of ChinaReal estate in the People's Republic of China is developed and managed by public, private, and state-owned red chip enterprises. Currently the market is experiencing tremendous growth and the central government has implemented measures to tighten interest rates, increase deposit and impose...
- New World Department Store China LimitedNew World Department Store China LimitedNew World Department Store China Limited is a Hong Kong-based company engaged in department store operation in China. It is a subsidiary of New World Development. It has self-owned stores and managed stores in Hong Kong and Mainland China, and operates under two brands: "New World" and "Ba Li...