New World Development Business Update – April 2025
New World Development Company Limited (“New World Development” or “the Group”, Hong Kong Stock Code: 00017) continues to drive its core business of property development and accelerate property sales in Hong Kong and Mainland China, achieving outstanding results. In the first quarter of this year, the Group’s residential sales in Mainland China exceeded RMB2.1 billion, representing a significant year-on-year increase of over 52%. The ultra-luxury residential project “DEEP WATER PAVILIA” in Phase 5A of THE SOUTHSIDE is set for its highly anticipated launch as early as the second quarter of this year.
Mainland China Business
Guangzhou’s THE SILLAGE Ranks First in Sales in Liwan District
Capitalising on the recovering property market and the launch of favourable policies, New World Development immediately ramped up its sales efforts across different projects, achieving a remarkable performance in the first quarter of this year. The Group outperformed the market with contracted sales exceeding RMB2.1 billion, a year-on-year increase of over 52%—a demonstration of the Group’s efficacious high-quality development strategy.
“THE SILLAGE”, situated in Bai’etan CBD, Guangzhou, has been very well received by customers thanks to its prime location and comprehensive lifestyle amenities. Since the implementation of new property market policies in October 2024, the development has led the Liwan District in both floor area sales and the number of four-bedroom units sold, as of March this year. Additional unit types in the project were also launched in March this year, with both the approximately 1,377-square-foot river-view four-bedroom units and the 1,054-square-foot garden-view four-bedroom units completely sold out.
In Shenyang, “Shenyang The Parksville” achieved approximately RMB304 million in contracted sales since March this year, ranking first in the private residential market in Heping District and second in the city of Shenyang. The Group built on this momentum in April this year, launching ready-to-move-in units ranging from approximately 1,722 to 2,045 square feet, which were well received by local buyers. “Anshan New World Mount Crescent” topped villa sales in the city of Anshan in the first quarter of this year. The project is currently offering low-density villas ranging from approximately 1,830 to 2,045 square feet.
In Mainland investment properties, K11 ECOAST, K11’s first flagship project in Mainland China, is progressing as planned with its phased operations. The cultural-retail component commenced phased trial operations on 28 April, with the initial phase focusing on cultural and entertainment experiences, featuring a variety of brands around the themes of culture, sport, and family-friendly activities. Located in Prince Bay, Nanshan District, Shenzhen, K11 ECOAST is a joint development by the Group and China Merchants Shekou Industrial Zone Holdings Co., Ltd., spanning a gross construction area of over 2.4 million square feet. It integrates the cultural-retail concept, the multifunctional art space K11 HACC, office space K11 ATELIER, and the waterfront Promenade, establishing itself as a brand-new art and culture landmark in the Guangdong-Hong Kong-Macao Greater Bay Area.
Hong Kong Business
Island South’s Ultra-luxury Residence DEEP WATER PAVILIA Set to Launch in Q2
The Group is jointly developing an ultra-luxury residential project in Phase 5A of THE SOUTHSIDE with Empire Group, CSI Properties, Lai Sun Development, and MTR Corporation. It is officially named “DEEP WATER PAVILIA”. Set to launch as early as the second quarter of this year, the project offers 447 residential units with a wide variety of layouts. The project includes standard units ranging from two- to four-bedroom plans, as well as select signature units, catering to those seeking a luxurious and serene lifestyle in Hong Kong’s prestigious Southern District.
Additionally, the sales of "THE PAVILIA FOREST" and "STATE PAVILIA" have been strong, with combined property sales exceeding HK$7.5 billion. “THE PAVILIA FOREST”, the new luxury residential landmark surrounded by waters from three sides in the prime Kai Tak runway area jointly developed by the Group and Far East Consortium, had sold 555 units as of 23 April this year, generating approximately HK$4 billion. Benefiting from the latest enhancements to the “Smart and Green Mass Transit System” in Kai Tak, the project has attracted investors and expatriate buyers, achieving the record for the highest sales volume in the Kai Tak runway area in 2024. Among these, AZURE FOREST—a low-floor suite in Tower 1 with a saleable area of 579 square feet, featuring a three-bedroom layout with an ensuite, storage room, bathroom, and unobstructed views of the marina—was sold for over HK$12.17 million, at a per-square-foot price of over HK$21,000. The sea-view penthouse has been highly sought after, with only one unit of this type remaining.
As for “STATE PAVILIA”, the large-scale, world-class heritage residence located in the heart of Hong Kong Island, has recorded another significant transaction. The latest tender sale involves the GLAMOUR COLLECTION unit—a high-floor three-bedroom suite with storage space measuring 834 square feet and commanding a harbour view for both the living room and bedrooms—was sold for over HK$29.6 million, equating to a price of about HK$35,500 per square foot. As of 23 April this year, 311 units had been sold since launch at an average per-square-foot price of approximately HK$22,500, representing over 92% of all available units. The project has achieved exceptional sales performance and attracted numerous high-profile and high-net-worth buyers. Among units sold with a listed price, over 75% of buyers opted for cash payment plans, generating over HK$3.5 billion in sales. With this performance, “STATE PAVILIA” successfully claimed the top spot in terms of new property sales in Q1, coming out ahead of all new property launches in Hong Kong during the period.