September 23, 2025
By Anjali Kochhar
Hong Kong entrepreneur Adrian Cheng has officially unveiled ALMAD Group, a new firm focused on digital assets and transformative industries in emerging markets including mainland China, Southeast Asia (ASEAN), and the Middle East.
After stepping down last year as CEO of New World Development (NWD), which had been weighed down by heavy losses and debt, Cheng is redirecting his energies. He has also taken control of the K11 brand, known for its cultural and lifestyle footprint, and is using it as a creative anchor for ALMAD.
ALMAD’s strategy is wide-ranging. Its investment areas include digital assets, entertainment, sports, media, healthcare, commercial management, cultural tourism, and virtual industries. The mission is to merge technology, culture, media, and finance to build new forms of value in fast-growing economies.
A major pillar of ALMAD’s plan is the globalisation of the K11 by AC cultural brand. Already successful in China, Cheng aims to expand it further into the Middle East. Alongside financial investment, ALMAD will create new experiences by leveraging intellectual property, cultural commerce, and immersive media.
Cheng is no stranger to identifying opportunities. He has previously backed early-stage companies such as Xiaohongshu(a social commerce app), XPeng (an electric vehicle maker), and Micro Connect (a Hong Kong-based investment platform). With ALMAD, he plans to apply this expertise to support the next generation of businesses being reshaped by digital transformation.
Cheng’s stated mission is clear: to build what the next generation needs and to shape a future economy filled with possibilities. ALMAD aspires to be more than just an investment group, aiming to push boundaries across culture, virtual assets, healthcare, and entertainment in regions poised for rapid growth.
Despite the promise, challenges remain. Emerging markets carry regulatory uncertainties, especially regarding digital assets. Expanding cultural and technology ventures across borders also involves financial and logistical risks. With Cheng’s move following NWD’s financial struggles, expectations will be high to see whether ALMAD can deliver on its ambitious vision.
About the author
Anjali Kochhar covers cryptocurrency and blockchain stories in India as well as globally. Having been in the field of media and journalism for over four years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
