New World Development Co. Ltd. operates as a holding company, which engages in the property development and investment businesses. It operates through the following business segments: Property Development, Property Investment, Construction, Hotel Operations, and Others. The Property Development segment focuses on the residential usage of company properties in China and Hong Kong. The Property Investment segment handles lands and buildings that are for lease or rent. The Hotel Operations segment manages major hotel projects in Hong Kong, namely, Grand Hyatt Hong Kong, Hyatt Regency Hong Kong, Tsim Sha Tsui, Hyatt Regency Hong Kong, Sha Tin and Renaissance Harbour View Hotel. The Department Store segment operates department store retail chain in China. The Others segment includes media and technology businesses. The company was founded on May 29, 1970 and is headquartered in Hong Kong.