New World Development Company Limited (“New World Development” or the “Group”) and China Merchants Land Limited (“China Merchants Land”) and MTR Corporation Limited (“MTR Corporation”) recently held Groundbreaking Ceremony on their jointly developed property development project at Pak Shing Kok Ventilation Building, Tseung Kwan O. The project is expected to provide approximately 600 residential units, meeting the market’s robust demand for high-quality homes.

The Groundbreaking Ceremony was officiated by Nie Li-Ming, Managing Director of China Merchants Shekou Industrial Zone Holdings Co., Ltd. (“China Merchants Shekou”), together with senior management of New World Development and MTR Corporation alongside management members of other business partners.

New World Development said, “The Group is actively advancing its core real estate business and is committed to unlocking the value of our land bank, turning premium land resources into highly competitive development projects in the market. The Pak Shing Kok Ventilation Building Property Development project in Tseung Kwan O leverages the strengths and resources of the Group, China Merchants Land, MTR Corporation and other business partners to create a vibrant and sustainable community. Moving forward, the Group will continue to work closely with strategic partners to enhance overall development efficiency and create long-term returns for our stakeholders.”

Nie Li-Ming, Managing Director of China Merchants Shekou, said, “The Pak Shing Kok Ventilation Building Property Development project in Tseung Kwan O keeps abreast of regional development trends, responds to residents’ housing aspirations and is deeply integrated into Hong Kong’s future development blueprint. It plans to deliver around 600 quality small and medium-sized residential units to the community, together with clubhouse, car park and comprehensive supporting facilities. It serves as a model for providing quality housing, optimising land resources and fostering community development. As the flagship enterprise of China Merchants Group for comprehensive urban development and operation, China Merchants Shekou firmly implements the strategy of rooting in Hong Kong, and leverages its Hong Kong platform China Merchants Land to actively fulfil its responsibilities as a central SOE stationed in Hong Kong. Partnering with New World Development, MTR Corporation and other stakeholders, it aligns with Hong Kong’s first five-year plan and capitalises on corporate strengths to contribute to Hong Kong’s long-term prosperity and stability.”

The Pak Shing Kok Ventilation Building Property Development project in Tseung Kwan O is situated in a well-developed area of the town, adjacent to the MTR Hang Hau Station. The area boasts comprehensive community amenities. The development has a gross residential floor area of approximately 290,000 square feet and features a clubhouse and parking facilities, offering around 600 residential units.