“Our slogan for New World Development is we create, we are artisans,” Cheng says.
“I want everyone to believe that they are a creator, that they can innovate and create things.” Victoria Dockside’s tenants include Cartier and Gucci, and several brands new to Hong Kong such as Fortnum & Mason’s first store outside the U.K., a Le Cordon Bleu cooking school and a Van Cleef & Arpels jewelry school .
To further his interest in art, Cheng has taken high-level roles at some of the world’s leading art institutions, including being a board member of New York’s Museum of Modern Art PS1 and a trustee of London’s Royal Academy of Arts. He likes to pepper his social media with posts about art. Beyond making money on the investments, Cheng sees these funds as a way to stay on top of quickly evolving tastes and technology, especially among China’s younger generation. “The paradigm shifts very fast,” says Cheng. “We’re looking at the consumer habits of millennials and Generation Z.”Looking beyond K11 and Victoria Dockside, Cheng is continuing to expand New World through other real estate projects.
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