New World Development secures RMB1.7 billion-plus sales Covering office properties of Ningbo and Hangzhou projects
New World Development Company Limited (“New World Development” or the “Group”; Hong Kong stock code: 00017) continues to accelerate capital recycling, with its latest sales covering Ningbo Tower, the Grade-A office component of Ningbo New World, as well as the Phase One office property at the Group’s Hangzhou development, including office and retail premises on floors 1 to 16 and underground parking spaces. The total sales exceed RMB1.7 billion.
Ningbo New World is located in the core Sanjiangkou area of Yinzhou District, Ningbo City, Zhejiang Province. The mixed-use, transit-oriented development (TOD) integrates premium residences, Grade-A offices, a K11 Art Mall and the Central Art Park. Completed in 2021, its Grade-A office component has attracted leading companies from the banking, insurance, legal, international trade and maritime sectors, supported by its prime location and premium commercial positioning. The development was the first mixed-use project in Ningbo to achieve both LEED Gold and WELL Gold certifications. The sales cover floors 4 to 41 of Ningbo Tower, which will be sold subject to existing tenancies.
The transactions validate the asset value of the properties developed and operated by New World Development. By capitalising on market demand for quality assets and accelerating capital recycling, the Group will redeploy resources towards its core projects and reinforce its financial resilience.
New World Development remains committed to quality-led growth through an integrated development model that brings together retail, residential, commercial and hospitality uses. Building on its sustained presence in core cities and prime commercial districts across Chinese Mainland, the Group continues to enhance the asset value of its properties through its proven ability to deliver landmark developments, established operating expertise and extensive brand equity.