New World's Luxury Ambition Collides With Hong Kong Property Downturn

In a gentrifying neighborhood near a picturesque marina, the ambition of a troubled Hong Kong property developer is colliding with harsh economic realities.
Deep Water Pavilia has all the high-end hallmarks of an era when New World Development Co. was pursuing visions of grandeur under its artistic chief executive, Adrian Cheng. But now the project is nearing completion with the company struggling, Cheng in a new role and the city's residential real estate in its fourth year of decline. The sprawling development has become a symbol of both the company's desperate need for cash and of an intensifying price war gripping the market.

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About Half Of Homeowners Have Regrets About Buying Their Current Home, 'Affordability Issues Rank High On The List Of Regrets'

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Japan scraps US meeting after Washington demands more defense spending -FT

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