Streamline
06 October 2026
New World Development will pay HK$3 billion to terminate its contract for the 11 Skies complex, handing control to the Airport Authority early.
The Airport Authority Hong Kong is preparing to assume full control of the massive 11 Skies commercial development after debt-burdened New World Development (NWD) agreed to terminate its contract and hand the project back ahead of schedule.
The handover, scheduled for April 2027, transfers ownership of the complex's three office towers and its sprawling entertainment hub back to the statutory body nearly a decade before the original contract was set to expire.
The 11 Skies complex is the commercial anchor of the broader Airport City master plan, a multi-billion-dollar initiative designed to expand the footprint of Hong Kong International Airport beyond a mere transit hub into a comprehensive business and leisure destination...
