New World Development Business Update – October 2026
.png "The office component of K11 ELYSEA, the Group’s large-scale integrated development in Shanghai, has achieved an occupancy rate of approximately 80%. The office tenants include market-leading companies such as renowned French luxury house Hermès, and global watchmaker Rolex.")
.jpg "The DEEP WATER PAVILIA series has been highly sought after since its launch. As of 31 October 2026, it had sold 793 units, representing over 96% of all available units and generating over HK$14 billion in sales.")
New World Development Company Limited (“New World Development” or the “Group”; Hong Kong stock code: 00017) has reached a new stage of development across its projects in key cities in the Chinese Mainland. The office component of K11 ELYSEA, the Group’s large-scale integrated development in Shanghai, has achieved an occupancy rate of approximately 80%. Its tenants include market-leading companies such as renowned French luxury house Hermès and global watchmaker Rolex. DBS Bank, Rajah & Tann Singapore LLP, one of Southeast Asia’s leading law firms, and Marsh, a global professional services firm specialising in risk, strategy and people, began moving into the development in October, underscoring the project’s appeal and competitive position as a regional business hub.
Chinese Mainland Business
K11 ATELIER Huaihai office occupancy nears 80%; Hermès and Rolex Set to Move In
Located in the core area of Huaihai Road, the district widely known as the “Oriental Avenue des Champs-Élysées”, Shanghai K11 ELYSEA comprises cultural-retail, art and cultural spaces, and an office tower, offering a total gross floor area of nearly 1.4 million square feet. Together with the adjacent Shanghai K11, the development forms a distinctive cultural-commercial cluster on Huaihai Road with a synergistic “Twin Beacon” effect.
Its office component, K11 ATELIER Huaihai, has achieved an occupancy rate of approximately 80%. Its tenant base spans a diverse range of professional sectors, including financial institutions, law firms, consulting firms and luxury retail brands, reinforcing the project’s appeal and competitive position as a regional business hub.
The Group’s K11 projects across Chinese Mainland continued to integrate cultural intellectual property into commercial spaces, creating differentiated experiences that drives sustained business growth. Ahead of the National Day Golden Week, Guangzhou Hanxi K11 enriched customer experience through the introduction of the artist collaboration programme “Tom and Jerry: More to Cheese”. During the National Day Golden Week period, multiple K11 projects in the Chinese Mainland also delivered encouraging footfall and sales performance, with Shenzhen K11 ECOAST, Wuhan K11 and Guangzhou K11 all recording double-digit year-on-year sales growth.
Hong Kong Business
DEEP WATER PAVILIA series generates sales of HK$14B, DEEP WATER PAVILIA II Sets Dual Records
In residential sales, Phase 5 of THE SOUTHSIDE, jointly developed by New World Development, Empire Group, CSI Properties, Lai Sun Development and MTR Corporation, has remained highly sought after. Following the launch of completed units for sale at DEEP WATER PAVILIA II, Phase 5B of THE SOUTHSIDE, in late October, the project has continued to set new transaction records.
Unit P1 on the 36th floor of Tower 2, offering a saleable area of 1,294 square feet and featuring a four-bedroom, dual en-suite layout with a utility room and lavatory, was sold together with one parking space for HK$65.412 million, or approximately HK$50,550 per square foot. Both the transaction price and the price per square foot were new highs for DEEP WATER PAVILIA II. As of 31 October 2026, the DEEP WATER PAVILIA series had sold 793 units, representing over 96% of all available units and generating over HK$14 billion in sales.
New World Development, China Merchants Land and MTR Corporation recently held a groundbreaking ceremony on their jointly developed property development project at Pak Shing Kok Ventilation Building in Tseung Kwan O. The project is expected to provide approximately 600 residential units, meeting the market’s robust demand for high-quality homes. It 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.
K11 MUSEA sees tourist spending surge 26% YoY during National Day Golden Week
The Group’s international cultural-retail landmark, K11 MUSEA, continues to implement its brand upgrade programme, with a series of renowned international brands opening in the second half of the year. The enhanced tenant mix supported strong business performance during the National Day Golden Week. Footfall reached a record high for the period, while tourist spending increased by 26% year on year, highlighting K11 MUSEA’s ability to convert footfall into spending. Jewellery and watches remained a key sales driver, with the largest single transaction approaching HK$2 million.
Ahead of the National Day Golden Week, the premium American wellness and lifestyle brand ALO opened its first flagship store in Greater China at K11 MUSEA. Sales approached HK$20 million in the first week, marking the strongest opening sales performance among all non-jewellery and watch brands at K11 MUSEA and demonstrating the tangible results of the brand upgrade programme.
Group’s ESG performance recognised with two accolades
New World Development is committed to embedding sustainability considerations across its business operations and has received recognition from the market. The Group received the Best GRI Report - Commendation award at the 2026 Hong Kong ESG Reporting Awards, reflecting the Group’s commitment to high-quality sustainability reporting, transparent ESG disclosure and alignment with internationally recognised reporting standards.
Additionally, with its industry-leading position in sustainable development practices and exceptional achievements and contributions to economic and trade cooperation between China and Portuguese- and Spanish-speaking countries, the Group was recently honoured with the Outstanding ESG Award at the 2026 China-Portuguese- and Spanish-Speaking Countries Outstanding Enterprises Award.