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14 Oct

New World Development wins tender for property development project atop Tai Wai Station

New World Development Company Limited (“New World Development”, "the Group"; Stock Code: 17.HK) is delighted to announce that the Group has won the tender for the property development project atop the Tai Wai Station.

The large-scale residential project sits on the bank of Shing Mun River, offering expansive views of Lion Rock and Tolo Harbour. Complemented by well-developed living amenities and recreational facilities, the station is the interchange point of the existing East Rail Line and Ma On Shan Line.

Dr Henry Cheng, Chairman of New World Development, is very pleased with the Group’s winning of the property development project at Tai Wai Station.

Adrian Cheng, Executive Director and Joint General Manager of New World Development, said that the project is set at a prime spot which, upon completion of the Shatin to Central Link, will become a transportation hub of the North South Corridor connecting Lo Wu and Admiralty, and the East West Corridor that will link up Wu Kai Sha with Tuen Mun.

The project covers a site area of 521,107 sq ft, with a gross floor area of 2,050,327 sq ft, offering no fewer than 2,900 residential units.

A well-established developer with solid foundation and excellent reputation, New World Development has collaborated with MTR Corporation on projects including The Riverpark, the Austin Station project and the West Rail Tsuen Wan West Station TW6 Property Development. Completed projects including The Riverpark, THE AUSTIN and GRAND AUSTIN received overwhelming response from the market. The Group is confident that this joint development project at Tai Wai Station will make another success.


New World Development Company Limited

Founded in 1970, New World Development Company Limited ("New World Group", Stock Code: 17.HK) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A diversified holding company with a focus on property development, New World Group’s core business areas include property development, infrastructure and service, department store and hotel. As at 30 June 2014, the total asset value of the Group amounted to HK$369.2billion.

As at 30 June 2014, the Group has an effective interest of approximately 61.3% in NWS Holdings Limited (Stock Code: 659.HK), approximately 69.7% in New World China Land Limited (Stock Code: 917.HK) and approximately 72.3% in New World Department Store China Limited (Stock Code: 825.HK).