New World Development Business Update – July 2026
.jpg "83 Wing Hong Street, the Group’s Grade-A office project in Kowloon West, sold over 75 units, representing nearly 80% of the price-listed units launched, with an average transaction price of approximately HK$7,500 per square foot.")
.jpeg "83 Wing Hong Street, the Group’s Grade-A office project in Kowloon West, has been well received by both corporates and investors and will roll out additional high-zone units.")
.jpg "Shenzhen K11 ECOAST is currently hosting the nation’s first-ever “Crayon Shin-chan Summer Sports Games” (「蠟筆小新夏日運動會」) exhibition, attracting a large number of visitors and quickly becoming a popular photo hotspot.")
.jpg "Shenyang K11 introduced two popular IP-themed pop-up stores, driving a 45% month-on-month increase in overall footfall.")
New World Development Company Limited (“New World Development” or the “Group”; Hong Kong stock code: 00017) has reported solid sales performance, with its Grade-A office project in Kowloon West, 83 Wing Hong Street, selling over 75 units, representing nearly 80% of the price-listed units launched. The average transaction price stood at approximately HK$7,500 per square foot, reflecting robust demand for premium Grade-A office space in emerging commercial district.
Hong Kong Business
83 Wing Hong Street sells nearly 80% of price-listed units; investor acquires entire floor for HK$140 million
Situated in Kowloon West’s emerging commercial district, 83 Wing Hong Street boasts comprehensive transport connectivity and has become a preferred destination for businesses seeking premises upgrades and expansion. The project has been well received by both corporates and investors. To date, the project had sold over 75 units, with an average transaction price of approximately HK$7,500 per square foot. Buyers for investment and self-use purposes account for approximately 40% and 60%, respectively. Most recently, a buyer acquired the entire sixth floor for HK$140 million as a long-term investment, with part of the space to be reserved for corporate self-use.
Rising 28 storeys, 83 Wing Hong Street has a total gross floor area of approximately 440,000 square feet and is one of the few brand-new Grade-A office buildings available for sale in the district. The project plans to launch additional high-zone office units in phases. The top-floor office on the 31st floor offers a floor-to-floor height of up to 4.7 metres and a gross floor area of approximately 19,000 square feet. Complemented by a floor-to-ceiling glazing, the unit enjoys sweeping panoramic views.
Each office floor at 83 Wing Hong Street is equipped with executive washrooms, nursing rooms and dedicated pantry facilities to meet the operational needs of modern businesses. The project also features over 8,600 square feet of retail space and approximately 20,000 square feet of twin terraced gardens. Having received multiple architectural awards and green building certifications, the project has attracted corporates from a wide range of sectors, including trading, logistics, and professional and financial services.
In residential sales, PAVILIA ROSA, the ultra-luxury project located in a prime, low-rise heritage neighbourhood in the heart of Kowloon, has been highly sought after since launch. In July, five premium residences were sold, including Flat E1 on the 7th floor. Boasting a saleable area of 561 square feet and a two-bedroom layout with a closed kitchen, the residence achieved a transaction price of HK$19.821 million, setting a new price record for comparable two-bedroom residences at the project, equivalent to HK$35,332 per square foot.
Low-density premium residences sold by tender at the project achieved an average selling price of over HK$56 million, with an average price of nearly HK$40,000 per square foot. In addition, a special four-bedroom residence with a private rooftop achieved a transaction price of HK$91.44 million, or HK$56,866 per square foot, setting a new high this year for luxury pre-sale residential properties in terms of price per square foot.
Chinese Mainland Business
Wuhan K11 launches IP art exhibition, boosting footfall by 35% YoY
During the summer holiday, K11 projects across the Chinese Mainland introduced a series of popular intellectual property (IP) collaborations and first-store openings. Shenzhen K11 ECOAST is currently hosting the nation’s first-ever “Crayon Shin-chan Summer Sports Games” (「蠟筆小新夏日運動會」) exhibition, featuring an eight-metre-tall suntanned Crayon Shin-chan installation and a newly styled DJ Shin-chan, which have quickly become a popular photo hotspot. The K11 project has also introduced multiple first-in-South China and first-in-Nanshan stores across categories including lifestyle and pet retail, further enriching the consumer shopping experience. Meanwhile, Guangzhou Hanxi K11 launched the “PEANUTS featuring: Snoopy and his Siblings” (「史努比家族—百變小狗」) pop-up event, successfully attracting large numbers of family visitors and young consumers.
Over the same period, Wuhan K11 in Hankou hosted the large-scale immersive IP art exhibition “Yao Chinese Folktales: Dreamland” (《中國奇譚‧造夢奇境藝術展》). Together with the successive openings of multiple new stores, including national debut stores, the exhibition helped drive a 35% year-on-year increase in footfall. Shenyang K11, targeting young trend-conscious consumers, introduced two popular IP-themed pop-up stores, lifting overall footfall by 45% month on month. On 25 and 26 July, single-day footfall exceeded 120,000 visits, setting new daily records since the project’s opening.
In the Chinese Mainland residential market, THE SILLAGE ranked as the top-selling residential project in Liwan District, Guangzhou, among homes priced under RMB 8 million over the past year. The project introduced new unit layouts ranging from approximately 818 to 1,496 square feet, catering for market demand for premium residences. During its “Hong Kong Homebuyer Special” sales event, footfall increased 220% year on year. New World 188 in Shenzhen once again ranked first by transaction volume in Longgang District in June, continue to lead the Longgang market. The project launched a show flat of approximately 1,938 square feet with a five-bedroom, dual-ensuite layout, meeting the market’s demand for large luxury homes.
Winning Three Prestigious Awards for ESG Disclosure
New World Development continues to earn recognition for its sustainability efforts. At the 7th BDO ESG Awards 2026, the Group received three prestigious accolades, namely the Best in ESG Awards, Best in Reporting Awards and ESG Report of the Year Awards. The awards recognise the Group’s outstanding achievements in sustainable business practices and high-quality ESG disclosure, further reinforcing its leading role in the industry.
New World China was also named 2026 “ESG Influencer of the Year” at the 5th ESG Ecosystem Co-building Summit and the 18th China CSR Annual Forum, organised by Southern Weekly, in recognition of its outstanding achievements in sustainable development and social responsibility in recent years.
In addition, New World Development remains committed to creating people-centric living and working environments that prioritise health and safety. Across the Chinese Mainland and Hong Kong, 23 of the Group’s projects have achieved the WELL Health-Safety Rating (WELL HSR) from the International WELL Building Institute (IWBI), covering corporate offices, office buildings, residential clubhouses and retail properties. This certification underscores the Group’s commitment to promoting the health, safety and well-being of employees, customers, tenants and other stakeholders, while reflecting the high property management standards and operational excellence consistently maintained across its portfolio.
The Group recently hosted a Wellness Month programme, which included a two-day Wellness Market featuring organic food, wellness products, body care, sports and more. The initiative enabled employees to explore healthy lifestyle choices from different perspective, reflecting the Group’s commitment to the “Investing in Our People” approach under the “Enriched Lives” pillar of its Sustainability Vision 2030+ (SV2030+).