New World Development Company Limited (the "Group") is pleased to announce that the Group has the successfully tendered for another commercial site in Cheung Sha Wan at the junction of Wing Hong Street, Yu Chau West Street and Wing Ming Street. It is a commercial section of a contract area of about 371,100 square feet. The Group’s initial plan is to build a Grade A office building on the site.
"The Group is optimistic about the development of Kowloon West District and is committed to creating a "New World Ecosystem for Emerging Industries" in that area. Together with the previous three Cheung Sha Wan projects at Tonkin Street, King Lam Street and Cheung Shun Street, the Group has more than 2.1 million square feet of available land in Kowloon West. The combination of these projects into an integrated whole will generate powerful creative synergies, and the Group will develop this unique industrial ecosystem in the spirit of craft and innovation characterised by our brand personality -The Artisanal Movement." says Mr. Adrian Cheng, Executive Vice-chairman and General Manager of New World Development.
About New World Development Company Limited
Founded in 1970, New World Development Company Limited (“The Group”, Hong Kong stock code: 00017) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A premium brand infused with a unique personality defined by The Artisanal Movement, New World Group’s core business areas include property development, infrastructure and services, retail, and hotels and serviced apartments. As at 31 December 2016, the total asset value of the Group amounted to HK$420.4 billion. The Group has an effective interest of approximately 61% in NWS Holdings Limited (Hong Kong stock code: 00659), approximately 72% in New World Department Store China Limited (Hong Kong stock code: 00825). New World China Land Limited is wholly owned by the Group.