Dr Adrian Cheng has taken the helm of New World Development’s Mainland China subsidiary as executive chairman.
While continuing in his role as executive vice-chairman of New World Development, under his father Henry, Adrian Cheng will spearhead the company’s expansion in Greater China where it is rolling out centres under its K11 brand.
Wholly owned subsidiary New World China Land plans to develop 36 projects across the mainland by 2024, including projects in Shenzhen, Guangzhou, Beijing, Tianjin and Ningbo.
In a statement announcing his appointment he said the company had confidence in the future development of China projects.
“We are steadily increasing investment in the mainland Chinese market at a pace in line with local regulations. In first-tier or promising cities, we serve as a city operator to create unique and inspiring landmarks.
“NWC will continue to respond favourably to national policies, integrate exceptional workmanship and sustainability features into projects, build vibrant communities, and bring the soul of the city to life,” he said.
“On the one hand, the company will make strategic developments in the Greater Bay Area that connects Guangdong Province, Hong Kong SAR and Macao SAR, Beijing-Tianjin-Hebei areas and the Yangtze River Delta. On the other hand, the company will continue to transform urban developments, and be guided by our long-term commitment to deliver sustainable projects and create shared value in the communities we serve.”
Cheng founded K11 Group in 2008, opening the museum-retail complete K11 Art Mall in Tsim Sha Tsui, merging mall with art space.