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2 May

New World Development Awarded Tender for Commercial Development in SKYCITY

Group to invest HK$20 billion to create a commercial entertainment hub for Hong Kong and the Greater Bay Area. SKYCITY to introduce “experience-based entertainment” to Hong Kong

New World Development Company Limited (the “Group”) is pleased to announce that the Group has been awarded the tender for a world-class commercial development in SKYCITY¹ (SKYCITY A2 and A3 sites) of Hong Kong International Airport (HKIA). The Group’s design and architecture team will utilise state-of-the-art technology and creativity to develop unique dining and retail services as well as world-class experience-based entertainment facilities. Upon completion the development will be the largest entertainment, dining and retail landmark of its kind in Hong Kong. Strategically located close to HKIA as well as the Hong Kong-Zhuhai-Macao Bridge, SKYCITY is expected to serve as a commercial-entertainment hub for locals and visitors from overseas and the Greater Bay Area.

The Group is well placed to create the largest commercial-entertainment hub for Hong Kong, with its rich architectural and management experience, sound financials and a track record of creative project planning. “The Group will inject ground-breaking creative and technological elements into the project, creating a world-class entertainment and retail landmark that combines learning, exploration and adventure,” says Mr. Adrian Cheng, Executive Vice-chairman and General Manager of New World Development. “We are confident that we will provide an extraordinary experience for Hong Kong people and visitors of different age groups and sectors. SKYCITY’s strategic location makes the Group very optimistic about the prospects of this mixed-use development project. We are confident that SKYCITY will become a top getaway and tourist attraction for locals and overseas visitors alike.”

Creative experience-based entertainment facilities

Following New World Development’s latest mixed-use development project VICTORIA DOCKSIDE, SKYCITY, with an investment of HK$20 billion, is another key integrated landmark project of the Group. The development plan stands out amid fierce competition with its creativity. The project will introduce an array of leading international technovation brands to the city that is set to disrupt the concept of entertainment. It will offer some brand new experience-based entertainment such as Hong Kong’s first indoor and outdoor kart track, AR and VR interactive game facilities and kids experiential zone. Under the theme of novel learning, exploration and adventure experiences, SKYCITY will provide an extraordinary edutainment experience for both adults and children.

Situated next to HKIA, SKYCITY will take up a gross floor area of 3.77 million square feet, comprising 2.1 million square feet for dining and retail outlets and 570,000 square feet each for experience-based entertainment facilities and office space. The remaining floor area will be used for public facilities and carparks. The project is expected to be completed in phases from 2023 to 2027. The Group will be responsible for the design, development and management of the whole project.

SKYCITY’s strategic position makes it an accessible entertainment and retail destination for HKIA’s passenger base. Passenger traffic at HKIA, which amounted to 72.9 million passengers in the past year, is projected to rise to more than 100 million by 2030 with the completion of the Three Runway System.

SKYCITY will also tap into the full potential brought by the Tuen Mun-Chek Lap Kok Link and Hong Kong-Zhuhai-Macao Bridge, that will greatly enhance the connectivity of HKIA with 10 other cities in the Greater Bay Area. Within an hour away from Hong Kong and the Pearl River Delta region, SKYCITY shows great commercial development potential and is set to become a brand new, must-go Hong Kong landmark for locals, overseas visitors and the 60 million residents in the Greater Bay Area.

[1] Remarks: Roxy Limited, a wholly-owned subsidiary of New World Development Company Limited, has been awarded the tender.