New World Development Company Limited is a Hong Kong based property development and investment company headquartered in Hong Kong. It was founded in 1970 by Hong Kong businessman Cheng Yu-tung and grew into one of Hong Kong's major property developers and diversified conglomerates, with operations spanning residential and commercial real estate, hotels, department stores, infrastructure and telecommunications across Hong Kong and mainland China. New World Development is one of Hong Kong's largest publicly traded companies and one of the territory's most prominent family controlled business groups.
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