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Following the exit, the Airport Authority plans to rebrand and reposition the development, integrating it into the broader Skytopia project to establish it as a world-class entertainment hub for Hong Kong.

The 11 Skies development boasts a massive total gross floor area of 3.8 million square feet.

Under the new operational model, half of the space will be dedicated to innovative entertainment facilities, which will feature a go-karting track and newly added pet-friendly amenities. The remaining half of the development will be designated for dining and retail.*

In a change to the original plans, a fresh food market featuring direct air-freight deliveries—originally envisioned as an outdoor market similar to Japan's Tsukiji Market—will now be moved indoors within the complex.*

On the retail front, the focus will shift away from traditional luxury brands toward experience-driven shopping. The entire complex is scheduled to open progressively between late 2028 and 2029, with officials expressing high confidence that most spaces will be leased out by then.*

The Airport Authority hopes the revamped project will attract more transit passengers and serve travelers utilizing the upcoming "SKYTOPIA Yacht Bay," which is another key component under the Skytopia umbrella. Under the terms of the settlement, New World Development will continue to operate two of the entertainment facilities even after the contract termination

Source: https://www.thestandard.com.hk/news/article/344462/Airport-Authority-takes-over-11-Skies-project-after-New-World-exits-early

New World Development (NWD) reported a net loss of HK$26.8 billion (US$3.42 billion) for the year ended June, as the developer booked HK$18.3 billion in impairments and provisions tied to the early termination of its flagship 11 Skies mall project.

NWD will hand the 11 Skies project back to Airport Authority Hong Kong (AAHK) next year under an agreement reached on Wednesday, which will see the company face charges worth HK$18.3 billion.

The deal will see the developer pay a HK$2.3 billion early termination fee, hand over another HK$14.7 billion in non-cash impairments, and also make provisions for HK$1.05 billion worth of pre- and post-handover work.

AAHK said it would now move “full steam ahead” with the 11 Skies project, aiming to create “a unique entertainment hub that contributes to the overall strategic development of Skytopia project”.

A Hong Kong government spokesman said the agreement enabled AAHK to move ahead with the project’s future development and that the Airport Authority would redefine the “positioning, theme, sector mix and operational model” of 11 Skies to align with the overall future development of Skytopia.

Source: https://www.scmp.com/business/companies/article/3369377/new-world-development-posts-hk268b-loss-after-11-skies-termination

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Galaxy Phase 4:






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Galaxy Phase 4:





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MGM to launch 124 new guest suites in Cotai property starting in April: CEO

Macau casino concessionaire MGM China Holdings Ltd will start opening from next month 124 new accommodation suites at its MGM Cotai complex (pictured), said Bill Hornbuckle, chief executive and president of the parent, MGM Resorts International.

“We will open, I think starting next month, 124 new suites in Cotai,” Mr Hornbuckle stated. “We converted three floors [of MGM Cotai] to just suites, for the premium mass business. It really makes a difference … and we’re pushing hard into that,” he added.

Source: https://www.ggrasia.com/mgm-to-launch-124-new-guest-suites-in-cotai-property-starting-in-april-ceo#:~:text=MGM%20to%20launch%20124%20new,the%20base%20of%20MGM%20Resorts.

Las Vegas Sands Corp (LVS) has awarded the construction contract for the US$8 billion expansion of its iconic Singapore integrated resort Marina Bay Sands (MBS) to local developer Woh Hup (Private) Limited – a decision it says reinforces its commitment to supporting Singaporean companies.

Following a comprehensive competitive tender process that involved a number of leading construction firms across the region, LVS said it chose Who Hup for its strong technical capabilities, proven track record in complex projects and depth in engineering and design management.

Woh Hup will lead the construction of the ultra-luxury development, slated for completion in 2030 and representing a significant milestone in LVS’s long-term investment in Singapore.

Source: https://asgam.com/2026/03/20/las-vegas-sands-awards-multi-billion-dollar-construction-contract-for-marina-bay-sands-expansion-to-local-developer-woh-hup-private-limited/

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