New World Development Business Update – April 2026
.jpg "K11 ATELIER Victoria Dockside, the Group’s landmark project in Tsim Sha Tsui, has achieved 99% occupancy. Its tenant mix is composed primarily of enterprises in premium wealth management, banking and insurance, which together account for over 54% of the total leased floor area.")
.jpeg "83 Wing Hong Street, a Grade-A office building in Kowloon West, recorded 10 transactions in recent months, exceeding HK$100 million in sales.")
.jpg "Wuhan K11 hosted events such as birthday parties for popular game characters, driving a year-on-year growth of 27% in footfall and 14% in sales this month.")
New World Development Company Limited (“New World Development” or the “Group”, Hong Kong Stock Code: 00017) reported robust leasing performance for its Grade-A offices in the traditional core business districts on Hong Kong Island and in Kowloon, with occupancy rates exceeding 90%. Among them, K11 ATELIER Victoria Dockside, a landmark project in Tsim Sha Tsui, achieved a 99% occupancy rate. In addition, the Group’s Grade-A office building in Kowloon West, 83 Wing Hong Street, recorded 10 transactions in recent months, exceeding HK$100 million in sales.
Hong Kong Business
K11 ATELIER Victoria Dockside in Tsim Sha Tsui achieves 99% occupancy rate
The Group holds a number of investment properties in the traditional core business districts on Hong Kong Island and in Kowloon. One of them, K11 ATELIER Victoria Dockside, the Group’s landmark project in Tsim Sha Tsui, has achieved 99% occupancy. Its tenant mix is composed primarily of enterprises in premium wealth management, banking and insurance, which together account for over 54% of the total leased floor area. Among these tenants, a foreign bank has leased more than 130,000 square feet of space for use as its Hong Kong headquarters.
New World Tower in Central, located on Hong Kong Island, has also recorded an occupancy rate of over 91%. Beyond its tenant base in sectors such as financial and professional services, the building has attracted top-tier luxury fashion brands and companies from the healthcare and medical-related sectors, further diversifying its tenant mix. The floor area leased to the healthcare and medical-related sectors has risen by more than 12% over the past year, with new tenants including sports medicine centres, specialist clinics and integrated medical centres.
In terms of investment properties, 83 Wing Hong Street, the Group’s Grade-A office building in Kowloon West, recorded 10 transactions in recent months, exceeding HK$100 million in sales. The building offers 23 storeys of office space with a total gross floor area of approximately 440,000 square feet. It is one of the few brand-new Grade-A office buildings available for sale in the district. The project features over 8,600 square feet of retail space and approximately 20,000 square feet of twin terraced gardens and has received multiple architectural awards and green building certifications. It has attracted corporates from trading, logistics, and professional and financial services, which have purchased units for their own use as offices.
The PAVILIA FARM III sells 274 units this month, generating over HK$4.5 billion in revenue
The PAVILIA FARM III is a landmark, large-scale riverfront residential project, developed jointly by New World Development and MTR Corporation, situated atop Tai Wai Station. Following its handover, the project adopted a “dual‑track sales strategy”, offering units for sale via both tender and price lists, catering for market demand for quality homes. As of 27 April, the project had sold 274 units over nine sales days this month, generating nearly HK$4.5 billion in revenue.
163 units offered for sale via price lists in two rounds were fully sold out on their respective launch days this month, with the highest transacted price reaching HK$27,368 per square foot. Buyers included local high-net-worth individuals, professionals from the Chinese Mainland and end-users from Hong Kong. Among the units sold by tender, a high-floor flat B with a saleable area of 1,269 square feet, featuring a four-bedroom dual-suite layout with a utility room and washroom, achieved a transaction price of over HK$48.08 million, or HK$37,888 per square foot, setting new highs in both transaction price and price per square foot for standard four-bedroom units.
Chinese Mainland Business
Wuhan K11 records double-digit growth in footfall and sales
Shanghai K11 launched two major exhibitions in April, both making their national debut. The Chinese arts and culture exhibition “An Ode to the Poet” has attracted over 10,000 visitors to date. Additionally, Shanghai K11 has rolled out the Shanghai Disney Resort 10th Anniversary exhibition “Duffy and Friends,” which is expected to drive an 80% year-on-year spike in newly acquired members.
Wuhan K11 hosted events such as pet-friendly themed exhibitions and birthday parties for popular game characters, driving year-on-year growth of 27% in footfall and 14% in sales this month. The project has continued to refresh its retail offerings by introducing new brands. By June 2026, 60 new stores are expected to have opened year to date, including 15 brands making their Wuhan debut, accounting for 27% of the total leased area.
Benefiting from the Ching Ming Festival and Easter holiday in Hong Kong, K11 ECOAST in Shenzhen recorded average daily footfall of nearly 100,000 visitors during the extended holiday period, with outlets such as restaurants and family‑friendly shops, delivering the strongest performance. Additionally, Guangzhou Hanxi K11 recorded a week‑on‑week increase in footfall of over 32%, while the number of visitors arriving by car from Hong Kong and Macao nearly quadrupled.
In the residential sector, the Group launched new units at projects such as NEW METROPOLIS MANSION and THE SILLAGE to meet market demand. At CENTRAL PARK VIEW, a landmark luxury residential project located in Zhujiang New Town, flat viewership from March to date increased by over 50% year on year, while the share of repeat visits by existing customers rose by nearly 40%.