New World Development Business Update – August 2025
.jpg "Cristiano Ronaldo’s visit to Hong Kong last month became the talk of the town, highlighted by his personal tour of the CR7® LIFE Museum Hong Kong at K11 MUSEA.")
.jpg "Cristiano Ronaldo’s visit to the CR7® LIFE Museum Hong Kong at K11 MUSEA attracted massive crowds of football fans.")
New World Development Company Limited (“New World Development” or the “Group,” Hong Kong Stock Code: 00017) achieved remarkable results in its retail landmark business this summer holiday. Hong Kong’s cultural-retail landmark K11 MUSEA hosted a number of mega events, including the large-scale themed exhibition CHIIKAWA DAYS and the CR7® LIFE Museum Hong Kong.
Adding to the excitement, Portuguese football legend Cristiano Ronaldo toured K11 MUSEA during his trip to Hong Kong, sparking widespread buzz across the city. The impressive lineup of mega events attracted large crowds of local residents and tourists, boosting both footfall and spending. K11 MUSEA recorded its highest monthly footfall in August since its opening. And the average single transaction value for tourists at K11 MUSEA increased by about 30% year on year (YoY) during the summer holiday.
Hong Kong Business
K11 MUSEA sees a surge in popularity and sales: sales of watches and jewellery rise by 20% YoY
Since early July, K11 MUSEA and the neighbouring Avenue of Stars have hosted a series of large-scale events. Highlights included the CR7® LIFE Museum Hong Kong, NBA ATELIER Pop-Up, adidas x Arsenal Pop-Up and Player Meeting & Greet, as well as the “Walk of Fame” exhibition organised by Carlsberg, with tributes to Liverpool FC. Also making its debut last month was the large-scale themed exhibition CHIIKAWA DAYS, organised by creative brand AllRightsReserved in collaboration with Spiralcute International, the official licensor of the renowned Japanese anime series CHIIKAWA. The excitement peaked in mid-August when Cristiano Ronaldo’s visit to Hong Kong became the talk of the town. During his visit, he explored the CR7® LIFE Museum Hong Kong at K11 MUSEA, drawing massive crowds of football fans.
K11 Art Mall, which targets the Gen Z market, also hosted a series of popular themed events over the summer, including the KALOS x “Squid Game” pop-up store and the Nintendo Switch 2 “Donkey Kong Bananza” trial play event. The continuous lineup of events at K11 MUSEA and K11 Art Mall attracted a steady stream of visitors, resulting in record-high footfall at both complexes in August. Their combined visitor numbers increased by approximately 20% YoY in August.
THE SOUTHSIDE PHASE 5 “DEEP WATER PAVILIA” series generates sales of nearly HK$10B
In addition to this packed lineup of high-profile events, K11 collaborated with its tenants to roll out exclusive shopping privileges, driving visitor spending throughout the summer holiday season. During this period, the average single transaction value for tourists at K11 MUSEA increased by approximately 30% YoY. Watches and jewellery performed particularly well, with member sales rising by 20% YoY.
Looking ahead, K11 MUSEA and K11 Art Mall will continue to host more themed activities in the third and fourth quarters of this year, further boosting footfall and spending while enriching the visitor cultural-retail experience.
In terms of residential sales, the new property market continued to thrive. The ultra-luxury residential project THE SOUTHSIDE PHASE 5, namely “DEEP WATER PAVILIA” and “DEEP WATER PAVILIA II”, developed jointly by New World Development, Empire Group, CSI Properties, Lai Sun Development and MTR Corporation, continued to see strong market demand. As of 31 August 2025, the project had sold a total of 574 units at an average price of approximately HK$27,000 per square foot, generating nearly HK$10 billion in contracted sales. “THE PAVILIA FOREST”, the new landmark luxury residence jointly developed by the Group and Far East Consortium in the Kai Tak runway area, is scheduled for handover in September. As of 31 August 2025, it had sold 663 units, generating more than HK$4.6 billion in contracted sales.
Mainland Business
Tianjin K11 Select achieves a 19% YoY increase in July sales
The Group’s K11 projects in the Mainland also delivered an impressive performance, with several delivering standout results. Notably, Tianjin K11 Select saw a 12% YoY increase in foot traffic in July, welcoming over 430,000 visitors and setting a new monthly record. During the same period, total sales grew by 19% YoY. Shenzhen K11 ECOAST launched the “SUMMER BREEZE BY THE SEA” during the summer holiday, featuring international IPs, such as the nation’s first “SpongeBob Bikini Bottom Open House”, British artist Philip Colbert’s giant installations of Lobster and the “THANGKA — CLARION CALL OF THE HIMALAYAS” exhibition, for a rich cultural experience. These events helped drive a 20% YoY increase in sales for July and August. During the period, spending by new members more than doubled YoY. Leveraging the strengths of art and culture, K11 ECOAST has successfully attracted 87 first-in-nation and first-in-region stores since its opening.
In addition, Guangzhou K11 hosted the “100% DORAEMON & FRIENDS TOUR” during the summer. The project also introduced more than 30 flagship stores and new concept stores from premium brands, driving a 36% YoY increase in foot traffic and a 24% YoY rise in sales revenue. Both foot traffic and sales revenue achieved significant breakthroughs.
Property sales events in the Mainland drove a significant increase in viewings for residential projects, such as “CENTRAL PARK VIEW”, “THE SILLAGE” and “NEW WORLD CHINA STARS”. Notably, “NEW WORLD CHINA STARS” attracted over 150 groups of visitors in a single day, setting a new record for the project. “THE SILLAGE” saw a significant 130% month-on-month increase in visitors during its sales event. The project promptly launched 88 exclusive river-view units to cater for buyers seeking a quality lifestyle. The “CENTRAL PARK VIEW” recorded a monthly visitation spike of 85% and introduced low-density houses with a gross area from 2,734 to 8,988 square feet.
Several Mainland projects receive multiple LEED, WELL HSR and BEAM Plus certifications
Several projects under New World Development have received prestigious international green building certifications. Among them, “THE CANTON PLACE” in Guangzhou’s Zhujiang New Town achieved “LEED v4.1 OPERATIONS AND MAINTENANCE: EXISTING BUILDINGS” certification. Additionally, THE CANTON CLUB, NEW WORLD FINANCIAL CENTER CANTON, NEW METROPOLIS CENTRE, THE CANTON PLACE and the New World Eastern China Office in Hangzhou all achieved the WELL Health-Safety Rating, reflecting the industry’s strong recognition of the Group’s development in sustainable building practices.
Furthermore, the Shenzhen Qianhai CTF Finance Tower, developed by the Group, will serve as one of the first pilot projects to incorporate the “Environmental Assessment Standard for Green Building in Qianhai”. Last year, the Group signed a memorandum of understanding with the Hong Kong Green Building Council (HKGBC) and BEAM Society Limited (BSL) to expand the application of BEAM Plus to projects outside Hong Kong. With the Qianhai CTF Finance Tower taking part as a pilot project, it will provide critical data to support the introduction of the “Environmental Assessment Standard for Green Building in Qianhai”.
This assessment standard will introduce international green building practices to Shenzhen and create an innovative pathway for standardised reforms in construction across the Greater Bay Area. It aims to align with international and Hong Kong-Macau regulations and enable mutually recognised results. Earlier this year, the Shenzhen Qianhai CTF Finance Tower became the first office building in Shenzhen to receive the BEAM Plus Excellent Rating for both the Management and Energy categories.