NWD Reportedly Mulls Paying Exit Fee to Airport Authority to End 11 Skies LT Lease Obligations
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New World Developmentis considering paying an exit fee to terminate its lease obligations for the 11 Skies mall project with the Hong Kong Airport Authority. The payment may involve land parcels or assets rather than cash. NEW WORLD DEV is expected to pay at least HKD1.8 billion annually from 2028 to 2066, totaling around USD9 billion. Discussions include various payment options, as the Airport Authority seeks new partners for the mall's management.
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