New World Development Company Limited (“New World Development” or the “Group”; Hong Kong stock code: 00017) has reached new milestones at two landmark integrated developments in Shenzhen. At New World 188, WELLSPRING, the first-phase residential component, has topped out. Meanwhile, the Group’s development in Xili, Nanshan District, has been officially named THE BAY PAVILIA. Its residential component is the Group’s first project in the Chinese Mainland under the PAVILIA COLLECTION.

Chinese Mainland Business
Shenzhen Integrated Landmark New World 188 Reaches New Milestone as Residential Component Tops Out

Construction of New World 188 is progressing steadily on schedule, with the topping-out of the first-phase residential component, WELLSPRING, marking a new phase for the project. Comprising four residential towers, WELLSPRING will provide 1,142 units, offering three- to five-bedroom layouts with gross floor areas ranging from approximately 818 to 1,938 square feet. Units are currently being launched in phases. By leveraging the advantages of a large-scale industry-city integration complex, the project will inject new momentum into the high-quality development of eastern Shenzhen.

To mark the latest construction milestone at the redeveloped Huanggang Port, WELLSPRING has introduced exclusive homebuying incentives for Hong Kong residents. Hong Kong buyers purchasing units on designated floors and layouts will receive a basic whole-home furnishing package, including air-conditioning units, lighting fixtures and curtains, enabling immediate move-in or lease-out upon handover.

Located in Shenzhen’s Nanshan District, the Group’s THE BAY PAVILIA is a large-scale integrated development spanning premium residences, Grade-A offices and commercial facilities, with a total gross floor area of approximately 1.6 million square feet. Its residential component is the first in the Chinese Mainland under the Group’s PAVILIA COLLECTION, marking the Group’s growing footprint in the premium residential segment in the Chinese Mainland market. The project offers standard simplex and duplex layouts, with a focus on spacious layouts starting from approximately 2,000 square feet and boasting 270-degree panoramic views of the surrounding natural landscapes.

Chinese Mainland K11 projects launch festive programmes to enrich consumer experience 

Shenzhen K11 ECOAST has launched Mid-Autumn Festival and National Day campaign, “Moonrise by the Sea” (「海上生明月」), bringing together international theatre performances, intangible cultural heritage experiences and waterfront concerts. Headlining events include the Chinese Mainland debut of Le Bal by French theatre company Remue Ménage; the “Intangible Cultural Heritage Lantern Exhibition” (「魚躍星河‧非遺彩燈展」), showcasing more than 100 Foshan fish-shaped lanterns handcrafted by a national-level representative inheritor of intangible cultural heritage; as well as “Shadow Puppet Show” (「月下皮影劇場」) performances and workshops. In October, K11 ECOAST will also introduce a range of popular IP-themed events, including the South China debut of the Miffy café pop-up and a waterfront parade featuring the 15th National Games mascot, nicknamed “Dawan Chicken”, creating an immersive shopping experience for consumers. On 24 September, Shanghai K11 launched the “Butterbear Art Exhibition Global Premiere”, featuring a themed art space of over 8,600 square feet created by 11 artists. The exhibition showcases over 20 limited-edition Butterbear installations, alongside a selection of exclusive merchandise.

Hong Kong Business 
K11 MUSEA achieves record first-half sales, Alo Yoga’s first Greater China store draws strong response

K11 MUSEA recorded an approximately 40% year-on-year sales growth in the first half of the year, marking its strongest first-half performance since opening. Newly introduced brands also achieved average sales growth of approximately 30%. The mall’s brand upgrade programme continues to advance in the second half of the year. Ahead of the National Day Golden Week last month, renowned American athleisure brand Alo Yoga opened its first store in Greater China at K11 MUSEA, attracting an enthusiastic response from local residents and visitors. Queues at times extended to the Avenue of Stars. Several international luxury brands have also recently joined K11 MUSEA, including Prada’s new duplex boutique, a new Miu Miu boutique, and Max Mara’s new duplex store, further enriching K11 MUSEA’s luxury and premium lifestyle offering.

In residential sales, PAVILIA ROSA, the Group’s ultra-luxury project located in a prime, low-rise heritage neighbourhood in the heart of Kowloon, has remained highly sought after since launch. Transactions recorded in September included Flat G5 on the ground floor, which has a saleable area of 831 square feet and a 213-square-foot garden. Featuring a three-bedroom ensuite layout with utility room and lavatory, the unit was sold for HK$37.395 million, or HK$45,000 per square foot, setting a new price-per-square-foot record for the project’s three-bedroom units. As of 30 September, PAVILIA ROSA had sold a total of 67 units, generating sales proceeds of over HK$2.8 billion.

Sales at THE PAVILIA FARM III, a landmark large-scale riverfront residential project situated atop Tai Wai Station and developed jointly by New World Development and MTR Corporation, have remained robust. The project sold 9 residential units in September, generating sales proceeds of over HK$160 million. Benefitting from the project’s excellent connectivity, established community amenities and the appeal of the New World brand, THE PAVILIA FARM series had sold a total of 409 residential units since its relaunch as of 30 September, generating sales proceeds of over HK$6.7 billion. 

Recognised with AA+ rating and again included in Hang Seng Corporate Sustainability Benchmark Index

New World Development’s outstanding performance in sustainable development continues to gain recognition from leading local benchmark. The Group was once again selected as a constituent of the Hang Seng Corporate Sustainability Benchmark Index and attained an ESG rating of AA+ in their latest sustainability assessment. 

Furthermore, New World Development was awarded the 2026 Gephson Awards for Green Project Management Demonstration Unit by the American Academy of Project Management (AAPM) and was selected as an “International Sustainable Development Exemplary Case” at the 2nd Sustainable Vision Forum, in recognition of the Group’s continued efforts in climate resilience and low-carbon development. These recognitions reflect the Group’s continued progress in delivering its Sustainability Vision 2030+ (SV2030+) and integrating sustainability considerations across its business operations, reinforcing its commitment to creating long-term value for stakeholders.