New World Development Company Limited (the “Group”) is pleased to announce that the Group has successfully tendered for the commercial site at Lai Chi Kok Road near Cheung Shun Street, Cheung Sha Wan, Kowloon. The Group’s initial plan is to build a Grade A office building.
Together with the Tonkin Street and King Lam Street sites, the Group now has a gross floor area of more than 1.7 million square feet in Kowloon West for development. “The Group is very optimistic about the future development of Kowloon West, regarding the district as a strategic stronghold. The three projects will create synergies in future development and operation,” says Mr. Adrian Cheng, Executive Vice-chairman and General Manager of New World Development. This premier office project will create yet another outstanding landmark, epitomising the Group’s brand personality - The Artisanal Movement.
About New World Development Company Limited
Founded in 1970, New World Development Company Limited (“The Group”, Hong Kong stock code: 00017) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A premium brand infused with a unique personality defined by The Artisanal Movement, New World Group’s core business areas include property development, infrastructure and services, retail, and hotels and serviced apartments. As at 31 December 2016, the total asset value of the Group amounted to HK$420.4 billion. The Group has an effective interest of approximately 61% in NWS Holdings Limited (Hong Kong stock code: 00659), approximately 72% in New World Department Store China Limited (Hong Kong stock code: 00825). New World China Land Limited is wholly owned by the Group.