Hong Kong Airport Authority Ends 50‑Year Deal with New World Development Over 11 Skies Project

The Hong Kong Airport Authority announced the termination of a nearly 50‑year contract with developer New World Development for the 11 Skies commercial project, a decision made to avoid a ‘lose‑lose’ outcome. According to the authority’s directors, the partnership could no longer be sustained because New World is debt‑ridden, and the authority needed to accelerate the project’s progress. Most of the 11 Skies facilities were scheduled to open in 2028, but the termination means the airport will seek alternative arrangements to move the development forward. The move underscores the authority’s focus on financial prudence and timely delivery of the commercial hub that is expected to support the airport’s expansion plans.