
New World Development stops its airport shopping mall project
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New World Development is a large company from Hong Kong.
The company is ending its agreement for a large shopping mall at the airport.
This shopping mall project is called 11 Skies.
The company will lose two point three billion dollars because of this change.
They decided to sell the rights back to the airport authority.
The company has too much debt and needs money quickly.
This decision will help the company to reduce its financial problems.
Investors are now watching this situation very closely.
It is a difficult moment for the Hong Kong real estate market.
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