Former NWD Chief Launches Digital Asset Firm
The former CEO of New World Development and heir of the multibillionaire Cheng family has launched a new firm that will focus on transformative industries, including digital assets.
Adrian Cheng has launched Hong Kong-headquartered ALMAD Group as his latest venture after recently resigning as CEO of New World Development, the property conglomerate controlled by the multibillionaire Cheng family.
ALMAD’s portfolio will focus on three main areas: transformative industries in emerging markets including culture, entertainment, sports, media, healthcare, commercial management and cultural tourism; digital assets, real-world asset (RWA) tokenization, blockchain solutions and immersive digital experiences; and the «K11 by AC» brand which includes retail management. Mainland China, ASEAN and the Middle East were named as priority markets.
Profound Change
«We are living in an era of profound change in the global economy, where new frontiers are emerging at an unprecedented pace,» said Cheng, ALMAD founder and executive chair, in a statement. «From ideation two years ago, we have been determined to build ALMAD Group as a movement propelling this shift, investing in transformative industries in emerging markets such as ASEAN and the Middle East, while advancing globally in digital assets and cultural industries.»
