New World Development Business Update – July 2025
New World Development Company Limited (“New World Development” or the “Group,” Hong Kong Stock Code: 00017) has achieved strong sales performance in both the Mainland and Hong Kong markets. This quarter, three luxury residential projects will be delivered, steadily accelerating capital recycling. The luxury residential project, “CITY GATHER” in Shanghai and “NEW METROPOLIS MANSION” in Guangzhou, were delivered gradually this July. Meanwhile, “THE PAVILIA FOREST”, the new landmark luxury residence in the Kai Tak runway area, is scheduled for ready-for-occupancy sale this September.
Hong Kong Business
Island South’s ultra-luxury residence “DEEP WATER PAVILIA II” sold more than 90% of first batch
Hong Kong’s first-hand property market remained strong. The ultra-luxury residential project “THE SOUTHSIDE PHASE 5”, developed jointly by New World Development, Empire Group, CSI Properties, Lai Sun Development and MTR Corporation, recently rolled out its latest Phase 5B “DEEP WATER PAVILIA II” with a total of 378 flats to meet the strong demand for quality homes. The first batch of sales via price lists for “DEEP WATER PAVILIA II” offered 88 units, with 82 units immediately sold, accounting for 93% of all available units. “THE SOUTHSIDE PHASE 5” had sold 500 units as of 30 July this year, generating nearly HK$8.8 billion.
The new landmark luxury residence “The PAVILIA FOREST” in Kai Tak, developed jointly by New World Development and Far East Consortium, had sold over 600 units since its launch, generating more than HK$4.2 billion in sales. The development attracted numerous high-spending investors and expatriate buyers. The project continued to see an increase in both viewings and transactions as it edged closer to the handover date in September. Recently, a mid-floor Unit A in Tower 5 in Forest Tower with a saleable area of 512 square feet, featuring a three-bedroom layout with a utility room and unobstructed views of the marina, was sold for over HK$10.62 million at a per-square-foot price exceeding HK$20,700.
“STATE PAVILIA”, a large-scale, world-class heritage residence located in the heart of Hong Kong Island, had sold out all units of the Victoria Zone. The average selling price is approximately HK$40 million, with an average price per square foot of nearly HK$35,000.
In addition, K11 MUSEA is presenting two world-class, mega events this summer. The “CHIIKAWA DAYS” large-scale themed exhibition, organised by creative brand AllRightsReserved in collaboration with Spiralcute International, the official licensor of the renowned Japanese anime series CHIIKAWA, will take place from 1 August to 24 August at K11 MUSEA and the Tsim Sha Tsui Harbourfront. The event’s first and second rounds of tickets have been sold out immediately and are expected to significantly boost foot traffic to K11 MUSEA. Additionally, CR7®️ LIFE Museum, hosted by Star Power Development Limited, which opened earlier this month to pay tribute to Portuguese football legend Cristiano Ronaldo, attracting numerous fans to visit.
Mainland Business
Guangzhou “NEW METROPOLIS MANSION” commenced delivery, launched a new collection of special units
The luxury residential project “CITY GATHER” in Shanghai was launched in 2023 and received an overwhelmingly positive response from the market. All 448 residential units were sold out instantly over two rounds of sales, with delivery commencing in July this year. Located in the prime area of Putuo District, Shanghai, developed jointly by New World China, China Merchants Shekou Industrial Zone Holdings, and Poly Developments and Holdings, the project has established itself as a landmark residence along Suzhou Creek.
In Guangzhou, the new landmark project “NEW METROPOLIS”, which comprises residences, a retail complex, and Grade A office spaces, is now in the delivery phase. Among these, the residential project “NEW METROPOLIS MANSION” has achieved outstanding sales. In response, Phase II has been launched, featuring special units ranging from approximately 947 to 2,637 square feet in size. Also, the luxury residential project “THE CO-CENTRAL MANSION” has also launched new special units to meet market demand, ranging from about 990 to 1,350 square feet in size. The project houses the only duplex units currently available in newly developed projects in the centre of eastern Guangzhou.
In the Greater Bay Area, the new waterfront retail landmark K11 ECOAST hosted a series of events during the summer holidays, including a summertime event held in collaboration with Hong Kong International Airport, as well as the “Wave Market”, which continued to draw significant foot traffic. Additionally, K11 ECOAST has introduced nearly 20 brands spanning fashion, retail, beauty, and culinary offerings, providing a variety of leisure and entertainment’s experiences.
Furthermore, “K11 ELYSEA” in Shanghai and “THE PARK by K11 Select” in Ningbo have won the Gold Award in the “Better Future Hong Kong Design Awards 2025” in the “Architecture – Commercial – International” and “Architecture - Mixed-Use – Constructed” categories, respectively, recognising their outstanding architectural design, cultural expression, and sustainable practices. These accolades highlight New World China’s relentless pursuit of excellence in design and reflect the team’s ongoing innovation and development efforts in Shanghai and Ningbo.
New World Development’s efforts in sustainable development have also earned industry recognition. The Group’s “Hangzhou New World Arts Centre” and “New World Sustainability Vision 2030+” (SV2030+) have been honoured at the Real Estate Asia Awards 2025, receiving “Sustainable Development of the Year – China” and “ESG Initiative of the Year - Hong Kong”, respectively. These accolades reflect the Group’s strategic commitment to driving sustainable development through its SV2030+, which is anchored by three pillars: Future-Fit Places, Organisational Resilience, and Enriched Lives.