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New World Development is a publicly traded joint-stock company founded in May 1970 by Cheng Yu-tung . The company is headquartered in Hong Kong and is listed on the Hong Kong Stock Exchange under stock symbol 0017.HK . They operate as a conglomerate in various industries, with several subsidiaries and owned properties .
Subsidiaries of New World Development include New World Department Store China, NWS Holdings, and New World China Land . The company also owns several properties such as Grand Hyatt Hong Kong, Hyatt Regency Hong Kong, Sha Tin, and Vision Values Holdings Ltd .
New World Development is located at 30/F, New World Tower, 18 Queen's Road, Central, Hong Kong . The legal form of the company is a public limited company .