New World Development Business Update – May 2025
，副區長沈丹娜(左一)，新世界發展執行董事兼行政總裁黃少媚(右二)及新世界中國運營總裁陳耀豪(右一)。.jpg "At the K11 ELYSEA naming ceremony, the Shanghai Huangpu District People's Government and New World Development Company Limited representatives signed a Strategic Partnership Agreement. Xu Huili, Deputy Secretary of the CPC Shanghai Huangpu District Committee and Head of the Huangpu District Government (second from left); Shen Danna, Deputy Head of Huangpu District (first from left); Huang Shaomei, Echo, Executive Director and Chief Executive Officer of NWD (second from right); and Chan Yiu-Ho, Benny, Chief Operation Officer of NWCL(first from right).")
New World Development Company Limited (“New World Development” or “the Group”, Hong Kong Stock Code: 00017) has actively promoted the development of its property business, achieving continuous growth in both Hong Kong and Mainland China. The total contracted sales year-to-date amounted to approximately HK$24.8 billion, representing over 95% of the Group’s annual sales target. The ultra-luxury residential project “DEEP WATER PAVILIA” on Hong Kong Island South successfully sold 19 units by tender within three days, generating over HK$1.1 billion in cash and setting three new records in the ultra-luxury residential market.
Mainland China Business
Mainland Market Reports Strong Sales, with Total Contracted Sales of RMB13.4B Year-To-Date
With the steady recovery of the Mainland economy and a rebound in the property market, New World Development accelerated its sales efforts. The Group raised its annual contracted sales target for Mainland China from RMB 11 billion to RMB 14 billion. As of 26 May, over 95% of the revised target of RMB14 billion had been met, accelerating capital recycling. From January to May this year, New World China’s contracted sales reached RMB6.45 billion, 1.86 times that of same period last year. During the traditional peak season of “Red May” in Mainland China, New World China’s contracted sales from 1 to 12 May rose by 15% compared to that in last year’s Labor Day Golden Week, reflecting keen demand for high-quality residential properties in the Mainland market.
During Labour Day Golden Week, “THE SILLAGE” in Guangzhou launched additional units for sale, which sold out in less than 30 minutes. New World China Stars, located in the east part of Guangzhou, also performed well, with 90% of the units in the latest phase of sales already sold. The project achieved the “Triple Crown” for sales area, sales amount and sales volume in the Yongning area from January to April this year. In addition, “Shenyang THE PARKSVILLE” ranked first in sales of private residential properties in the Heping District and second in Shenyang City, as it continued to dominate the high-end market. This success underscores the effectiveness of the Group’s high-quality development strategy.
On 28 May, New World Development signed a Strategic Partnership Agreement with the Shanghai Huangpu District People’s Government. This partnership aims to promote the development of the Huaihai Road business district and comprehensively enhance economic development benefits. New World Development will leverage its strong brand advantage, commercial operation experience and professional capabilities to strengthen the synergistic effects of regional industries. The second K11 in the core area of Huaihai Road, Shanghai, was officially named ‘K11 ELYSEA’. The first batch of prospective tenants for the office space include international companies such as Hermès and Singapore-based law firm Rajah & Tann’s Shanghai Representative Office, marking the return of K11 to Shanghai after the first K11 shopping and art centre in Mainland China was established there in 2013. With a total gross floor area of nearly 1.4 million square feet, K11 ELYSEA comprises offices, a shopping mall and an art centre, and is conveniently located next to a metro station. The project received LEED Platinum and WELL Gold pre-certification and is being developed in synergy with Shanghai's first K11 shopping and art centre, with the aim of redefining the landscape of Shanghai's cultural and commercial landmarks, further expanding the Group's cultural and commercial footprint.
Hong Kong Business
Island South’s Ultra-Luxury Residence DEEP WATER PAVILIA Realised Contracted Sales of Over HK$1.1B in Three Days
“DEEP WATER PAVILIA”, an ultra-luxury residential project in Phase 5A of THE SOUTHSIDE, co-developed by New World Development, Empire Group, CSI Properties, Lai Sun Development and MTR Corporation, offers 447 residential units featuring a variety of layouts, including standard units with two- to four-bedrooms, and select signature units. Located in the prestigious Southern District of Hong Kong Island, with stunning views of Deep Water Bay and Shouson Hill, the project has received an overwhelmingly positive response from the market since the release of its sales brochure.
“DEEP WATER PAVILIA” sold 19 units featuring Deep Water Bay views within three days, generating over HK$1.1 billion in total sales. The transaction price per unit averaged nearly HK$58.5 million, while the average price per square foot was close to HK$40,000. The project also set a new record for selling over HK$1 billion for a super-luxury property by tender in a single day this year.
The project attracted five high-net-worth buyers. Among them, the largest transaction was made by an expatriate buyer who purchased two units for HK$147 million, with the highest square footage price reaching HK$48,000, a record high for THE SOUTHSIDE this year. The sale price is also expected to be the highest in the area in nearly four years, setting a new benchmark of square footage price in the district over the past two years. Buyers included local high-net-worths, primarily from the Peak area of Island South and Kowloon, as well as both mainland Chinese and foreign buyers, illustrating market confidence in the New World brand and its products.
Meanwhile, sales at other two “PAVILIA COLLECTION” residential projects under New World Development remain buoyant. “THE PAVILIA FOREST”, a new luxury residential landmark surrounded by water on three sides in the prime Kai Tak runway area jointly developed by the Group and Far East Consortium, has attracted big investors and expatriate buyers. As of 29 May 2025, THE PAVILIA FOREST recorded a total of 576 units sold and generated contracted sales of about HK$4 billion, marking the highest sales volume in the Kai Tak runway area in 2024.
“STATE PAVILIA,” the large-scale, world-class heritage residence located in the heart of Hong Kong Island, is also highly sought after. As of 29 May this year, 319 units had been sold since the project’s launch at an average price of approximately HK$22,000 per square foot, representing nearly 92% of all available units. Among units sold with a listed price, nearly 80% of buyers opted for cash payment plans, generating contracted sales of over HK$3.58billion. The project’s exceptional performance earned it the top spot for new property sales in Q1, outperforming all other new property launches in Hong Kong during the period.