Could Shanghai project smooth indebted New World’s path to cash?

New World Development’s recent announcement that its Shanghai K11 Elysea office project has reached an occupancy rate of about 80 per cent may pave the way for the indebted group’s next securitisation exercise, analysts say, adding that it could generate 100 million yuan (US$15 million) in annual net operating income. The company said on Tuesday that new tenants, including luxury brands Hermes and Rolex, were preparing to move into the project’s office component on Huaihai Middle Road. Others...