Key facts
- The Airport Authority Hong Kong will take over the 11 Skies commercial project in April.
- New World Development will pay the Airport Authority HK$2.3 billion in cash and HK$1.05 billion in cash equivalents for early termination.
- Half of the 3.8 million square feet development will be dedicated to entertainment, including a go-karting track and pet-friendly amenities.
- The remaining space will be for dining and retail, shifting focus from luxury brands to experience-driven shopping.
- The complex is scheduled to open progressively between late 2028 and 2029.
The Airport Authority Hong Kong (AA) has reached an agreement with developer New World Development (NWD) to prematurely terminate their contract for the massive 11 Skies commercial project near the international airport. The AA will take over the project in April, with plans to rebrand and reposition it as a world-class entertainment hub for Hong Kong, integrating it into the broader Skytopia project.
Under the new operational model, half of the development's 3.8 million square feet gross floor area will be dedicated to innovative entertainment facilities, including a go-karting track and pet-friendly amenities. The remaining half will be designated for dining and retail, with a shift away from traditional luxury brands toward experience-driven shopping. A fresh food market, originally planned as an outdoor market, will now be moved indoors.
New World Development will pay the Airport Authority HK$2.3 billion in cash alongside HK$1.05 billion in cash equivalents as part of the settlement. These funds will be allocated to a newly established subsidiary of the AA to cover operational and business development needs. Officials expressed confidence that the funds will be sufficient for long-term financial sustainability, as the physical structure is already built.
Both parties agreed that an early, mutual termination was the most constructive path forward to expedite the launch of the landmark hub, citing unpredictable challenges faced by NWD since winning the tender in 2018, including the global pandemic and management restructurings.