Adrian Cheng unveils ALMAD Group with a digital-first vision

Adrian Cheng (pictured), the former CEO of New World Development (NWD), has launched a digital-focused venture "ALMAD Group", aiming to promote K11 globally and investing in emerging markets including China, ASEAN countries, the Middle East and beyond.

Cheng, founder and executive chairman of ALMAD Group, said, “We are living in an era of profound change in the global economy, where new frontiers are emerging at an unprecedented pace. 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.”

The company will have three directions: investing in transformative industries within emerging markets, breaking the boundaries of digital and virtual assets, and globalising K11 through its arts and culture ecosystem. Its mission is to build what the next generation needs and to shape a future economy filled with possibilities, according to the release.

Headquartered in Hong Kong, ALMAD Group aims to be an iconic global platform, driving long-term growth worldwide. Its focus spans culture, entertainment, sports, media, healthcare, commercial management, and cultural tourism. These sectors not only show strong commercial viability today but also have the potential to shape the global economy and serve the needs of Gen Z and Gen Alpha over the next 20 years.

As part of its mission to push boundaries in digital and virtual assets, ALMAD Group aims to lead in Web3 financial innovation. Its strategy includes exploring investments in digital assets, real-world asset (RWA) tokenisation, and other emerging opportunities while considering the evolving market and regulatory landscape. The group will also investigate applications of blockchain technology and immersive digital experiences across various industries to unlock new possibilities.

Cheng has supported early-stage technology start-ups, successfully investing in companies such as Xiaohongshu, XPeng Motors, and Micro Connect. He will lead the group's financial and technology strategies to drive growth and shape the future economy.

In terms of globalising K11 by AC's cultural ecosystem, the brand, led by Cheng within ALMAD Group, is transforming the landscape through retail asset management and art districts. It differentiates itself by leveraging cultural content and targeting younger, affluent demographics.

The snime IP division, Experience 11, is expanding in mainland China and the Middle East, curating experiences with popular Anime IPs and enhancing the cultural ecosystem, particularly in the fast-growing ACGN (animation, comic, game, and novel) sectors. Additionally, K11 by AC is scaling its Gentry Club, a luxury city club for cultural enthusiasts focused on an artisanal lifestyle.

As part of the launch announcement, Cheng has shared a video on his Instagram featuring various imaginative scenes that illustrate the group's vision.

Don’t miss: New World Development CEO Adrian Cheng steps down

ALMAD Group embodies Cheng’s latest endeavor in pioneering models and ecosystem innovation. He launched K11 in 2008, the world’s first cultural commerce model that seamlessly integrates art, design, and retail. His leadership has driven various projects, such as Victoria Dockside, Hong Kong’s US$2.6 billion global art and cultural district featuring K11 MUSEA. As ALMAD Group expands Cheng’s business ecosystem into new segments, it seeks to continue attracting mission-aligned entrepreneurs and strategic investors on a collective journey to realize tangible opportunities.

This comes after Cheng resigned from his role as CEO of NWD after 17 years. According to the official document on the Hong Kong Stock Exchange, the company stated that Cheng tendered his resignation as chief executive officer to devote more time to public service and other personal commitments.

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