New World Development Business Update – June 2026
.jpg "New World Development has commenced construction on two large-scale residential projects in the Northern Metropolis, with sales targeted for launch from the 2027 financial year.")
.jpg "Guangzhou K11’s Dragon Boat Festival celebrations drove a 132% year-on-year increase in new spending members during the holiday, with member sales rising over 70% year on year.")
.jpg "During the Dragon Boat Festival, Hanxi K11 introduced the cultural IP “Greetings, Master Poet” (「久仰了大詩人」) to South China for the first time as a pop-up event, continuing to attract family visitors.")
New World Development Company Limited ("New World Development" or the “Group”; Hong Kong stock code: 00017) continues to capitalise on the opportunities presented by the Northern Metropolis. Following the commencement of construction on its Ma Sik Road project in Fanling and the first phase of its Yuen Long South project, the second phase of the Yuen Long South project, the fifth phase of the Lungtin Tsuen project in Yuen Long, and the Lam Hau Tsuen project in Yuen Long have secured relevant planning approval. Together, these projects can provide nearly 7,000 residential units. They will deepen the Group’s presence in the Northern Metropolis, add scale to its short-, medium- and long-term land bank, and create a stronger platform for future growth.
Hong Kong Business
Ma Sik Road and Yuen Long South projects to launch from FY2027
New World Development currently holds approximately 15 million square feet of site area in its agricultural land bank, much of which is situated in prime locations within the Northern Metropolis. Two large-scale residential projects, Ma Sik Road in Fanling and Yuen Long South, are planned for launch in the 2027 financial year. The Ma Sik Road project, a large-scale commercial and residential development jointly developed with China Merchants Shekou Industrial Zone Holdings Co., Ltd., will provide approximately 2,300 residential units, with a gross floor area of over 1.1 million square feet, and will feature the largest shopping mall in the district.
The Yuen Long South project, a residential development jointly developed with China Resources Land (Overseas) Limited, commenced construction of its first residential site last year, with completion expected in 2029. The second phase site secured relevant planning approval in June this year and is slated for completion in 2030. Across both phases, the Yuen Long South project will provide approximately 1,900 homes, with a combined gross floor area of over 720,000 square feet.
In addition, the Wing Ning Tsuen Land Sharing Pilot Scheme, in which the Group participates, completed its pre-planning procedures in the second quarter of this year. The project will be developed into a small community offering approximately 5,800 public and private housing units. The Group will continue to accelerate agricultural land conversion, bring in strategic partners, and phase the delivery of its Northern Metropolis projects to unlock land value.
Luxury project PAVILIA ROSA generates over HK$2.2 billion on first day of tender
In residential sales, PAVILIA ROSA, an ultra‑luxury project in a prime, low‑rise heritage neighbourhood in the heart of Kowloon, sold 39 residences on the first day of tender. Sales proceeds surpassed HK$2.2 billion, marking the highest single-day proceeds recorded so far this year. The average transaction price per unit exceeded HK$56.8 million, or nearly HK$40,000 per square foot. Among the transactions, a four-bedroom unit with a private rooftop was sold for HK$91.44 million, or HK$56,866 per square foot, setting a new high for luxury pre-sale properties in 2026. As of 30 June, including units sold via price lists, the project had sold 59 units, generating nearly HK$2.7 billion.
THE PAVILIA FARM, a landmark large-scale riverfront residential project jointly developed with MTR Corporation that sits atop Tai Wai Station, also continued to deliver solid sales momentum. As of 30 June, THE PAVILIA FARM series had sold 382 units following the resumption of sales, delivering over HK$6.2 billion in revenue.
Chinese Mainland Business
Guangzhou K11 hosts Dragon Boat Festival celebrations; member sales up over 70% YoY
Across Chinese Mainland, K11 projects brought Dragon Boat Festival traditions into modern commercial spaces to create immersive experiences, driving footfall and sales growth. Guangzhou K11 created a 33-metre dragon installation, combining Lingnan-style lanterns with the intangible cultural heritage of papercutting. The activation became a key festive attraction and drove a 132% year-on-year increase in new spending members over the Dragon Boat Festival holiday, while member sales grew by over 70% year on year. Spending by top-tier Black Card and Gold Card members also rose significantly.
At Hanxi K11, the cultural IP “Greetings, Master Poet” (「久仰了大詩人」) made its South China debut as a pop-up event during the Dragon Boat Festival, attracting a large number of family visitors. Other themed activities, such as the “2026” Chinese National Geography Explore: Ultimate Discovery Science & Art Image Exhibition (「2026版」中國國家地理．探索極致發現科學藝術影像展), are also underway. Together, these initiatives propelled a 22% month-on-month increase in footfall and an approximately 30% month-on-month increase in overall sales.
Shenzhen K11 ECOAST hosted a range of events during the 2nd Cultural Festival, including a pop-up store by a renowned K-pop group, a theatrical parade and concerts. Footfall exceeded 300,000 visits during the Dragon Boat Festival holiday, while sales achieved double-digit growth. At Wuhan K11, Dragon Boat Festival celebrations and anime and gaming IP-themed events drove a 52% surge in holiday sales during the festival period, with new spending members rising 75% year on year. These results reflect the project’s ability to attract footfall and convert it into commercial performance.
In the Chinese Mainland residential market, THE SILLAGE in Guangzhou’s Bai'etan CBD continued to record strong sales. In June, the project launched new unit layouts ranging from approximately 818 to 1,496 square feet, attracting more than 300 groups of buyers on launch day.
Honoured with two prestigious awards at the Real Estate Asia Awards 2026
New World Development has recently received multiple accolades in the field of sustainable development, further reinforcing its leading role in the industry. At the Real Estate Asia Awards 2026, the Group received two prestigious honours: ESG Initiative of the Year – China and Sustainable Development of the Year – China, underscoring its all-round strengths in green building certification and sustainable urban development. New World Development was also recognised in the listed company category at the Carbon Awards 2026, organised by the GBA Carbon Neutrality Association, in recognition of the Group’s efforts in advancing carbon neutrality, low-carbon strategies and sustainable development.
At the Hong Kong Green and Sustainability Contribution Awards 2026, organised by the Hong Kong Quality Assurance Agency, the Group received the Outstanding Sustainable Property Contribution Award (Developer) – Promote Environmental Protection. In addition, 11 of its projects in Hong Kong were awarded the Gold Seal for Contribution to Sustainable Property – Promote Environmental Protection, spanning residential, retail and office portfolios, demonstrating the Group’s ongoing commitment to driving sustainable value across the full cycle of its developments.
In addition, New World Development received six prestigious awards at the FinanceAsia’s Asia’s Best Companies Poll 2026. At the 12th Hong Kong Investor Relations Awards 2026, organised by the Hong Kong Investor Relations Association, the Group also won nine awards and was recognised as a “10 Years IR Awards Winning Company”, reflecting industry recognition of its ongoing efforts in investor relations and corporate governance.