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New World Development meets HK$26 billion contracted sales target for FY2024/2025 by June 25.
ByAinvest
Monday, Jun 30, 2025 4:55 am ET1min read
New World Development meets HK$26 billion contracted sales target for FY2024/2025 by June 25.
In a significant milestone for its financial health, New World Development (NWD) has achieved its contracted sales target for the financial year ending June 25, 2025, reaching HK$26 billion. This achievement comes on the heels of the developer securing a HK$87.5 billion loan refinancing commitment, which brings some much-needed financial relief [2].The sales target was primarily driven by the strong performance of NWD's Deep Water Pavilia project in Wong Chuk Hang. As of June 26, the project had sold 341 units with total sales of HK$6.3 billion, contributing significantly to the overall target [2].
The refinancing deal, backed by some 40 assets including the company's headquarters, New World Tower, and its Victoria Dockside complex in Tsim Sha Tsui, marks the end of months-long negotiations for a debt package aimed at pulling NWD back from the brink of default [1]. The refinancing would push back HK$63.4 billion of borrowings that were set to become due this year and next, extending the maturities for three years [1].
However, the developer still faces challenges. Attention is now shifting to whether NWD will be able to raise an additional HK$15.6 billion via a loan secured by the first ranking mortgage on Victoria Dockside to support the broader refinancing exercise [1].
In light of these developments, investors and financial professionals should closely monitor NWD's ability to manage its debt and maintain its financial stability. The company's ability to secure the refinancing and meet its sales targets is a positive sign, but the ongoing challenges in the real estate market and the developer's aggressive debt-driven growth history warrant continued scrutiny.
References:
[1] https://www.businesstimes.com.sg/property/new-world-gets-100-lender-approval-us11-billion-refinancing
[2] https://www.scmp.com/business/companies/article/3316144/hong-kong-developer-nwd-meets-2025-sales-target-and-wins-commitment-refinancing?module=latest&pgtype=homepage
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