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Only ~40% of 11 Skies Leased; NWD Executives Concerned About Leasing Challenges: Wire
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Senior executives at NEW WORLD DEV (00017.HK) are increasingly worried about the prospects of 11 Skies, a massive shopping mall near Hong Kong International Airport, Bloomberg reported, citing sources. This project is being hampered by slow progress in tenant preparations, airlines' reluctance to shift flights to the adjacent Terminal 2, and a gloomy economic outlook threatening the tourism industry. According to sources, Greater China's first KidZania (children's career experience park) is expected to open at 11 Skies in July, but currently only about 40% of the mall has been leased. The first batch of retail stores may not open until the end of this year or early next year. Some NEW WORLD DEV executives are said to believe that the market momentum may improve once Terminal 2 is operational, yet the distance between 11 Skies and Terminal 1 is making leasing even more difficult. AAStocks Financial News |
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