Hong Kong Developer New World Gets Nod to Spin Off K11 Shanghai Assets The Shanghai Stock Exchange has approved a plan by New World Development to list its K11 Shanghai assets as a real estate investment trust (Reit).
This move is seen as a strategic financial decision by one of Hong Kong's wealthiest families, allowing them to "recycle capital for more value accretive projects," according to analyst Liang Weihong.
The luxury property market in China has been highly volatile over the past decade. The K11 Shanghai assets, comprising the Art Mall and Atelier New World Tower on Huaihai Road Central, are valued at 3.