ebulletin

October 6, 2026
HK$20B Airport City commercial complex to return to AAHK control
Agreement Paves Way for Relaunch of Entertainment Hub to Complement SKYTOPIA Development

Airport Authority Hong Kong (AAHK) announced earlier that an agreement has been reached with New World Development Company Limited (NWD) in relation to the 11 SKIES development project. With the agreement in place, AAHK is taking forward the Project full steam ahead, aiming to create a unique entertainment hub that contributes to the overall strategic development of SKYTOPIA with a new business model.
The agreement puts an early end to the contractual arrangement with NWD for the Project and provides for the surrender of the related lease by Roxy Limited, a subsidiary wholly owned by NWD. As a result of the agreement, the assets in connection with the Project, including three office towers and the entertainment complex, will be handed over to AAHK at no cost to AAHK. In addition to handing over the assets, NWD will provide cash and cash equivalents of over HK$3 billion to AAHK.

AAHK will take over the business development and management of the project. The new model championed by AAHK for the Project envisages strong synergy between the Project and other components of SKYTOPIA, serving the strategic goal of SKYTOPIA to create a new landmark for Hong Kong and contribute to economic development as a growth engine.
Going forward the project will focus on curating innovative entertainment for different ages, diverse dining options and all-round consumer experience, complementing other components of SKYTOPIA and forming an ecosystem that includes a 20,000 seat state-of-the-art arena for world-class performances at AsiaWorld-Expo, Hong Kong’s largest yacht bay providing some 500 berthing places, a water recreation area, art galleries and storage facilities, a promenade with leisure facilities, as well as an autonomous transport system that connects SKYTOPIA, the Hong Kong Port of the Hong Kong-Zhuhai-Macao Bridge and the Tung Chung Mass Transit Railway station.
The project enjoys distinct geographical advantages. The assets are seamlessly connected to the airport, which supplies a major stream of international visitors and passengers in transit, and conveniently accessible to visitors from around the Greater Bay Area travelling on the Hong Kong-Zhuhai-Macao Bridge.
The termination of the sublease will be effective from 1 April 2027. (Reported by Building.hk)