TO OUR SHAREHOLDERS
In 2024, a year marked by global, political and economic turbulence, China has continued to advance despite geopolitical rivalries and persistent economic pressures. Amidst a sluggish real estate market, the Central Government has strategically recalibrated policies to optimise the industry, while Hong Kong has comprehensively lifted restrictive measures to bolster the local property market. However, rebuilding public confidence in the industry will take time. China has been diligently adapting to the evolving domestic and international conditions, demonstrating resilience and we stand united with the nation.
In the midst of fierce winds and towering waves, those who are unprepared may find themselves in peril, while those who are well-equipped see hidden opportunities. China, with unwavering resolve, boldly forges ahead, cleaving through rough waves on the path to high-quality development. New World aligns with the national strategy through its pursuit of “high- quality development” honouring the nation through decisive action. Fully committed to the development and construction of the Guangdong-Hong Kong- Macao Greater Bay Area and the Yangtze River Delta Megalopolis, we actively participate in the high- quality development of urban infrastructure, as well as commercial and residential projects across multiple cities in China. New World has created a myriad of landmark buildings and new business-cultural icons that set the trends of the time and shape the future of cities. Our endeavours are etched into the timeline of progress, and our unwavering commitment to fulfilling our aspirations remains steadfast as we continue on this journey of growth.
The realisation of new-quality productivity is an inherent requirement and crucial focus for advancing our high- quality development. As a pioneer in fostering new- quality productivity within the real estate sector, New World embraces innovative thinking and continuous development. We proactively integrate intelligent digital technologies such as big data, cloud computing, and AI to shape smart communities, create smart buildings, and develop green architecture. Through the early adoption of innovative technologies, we seamlessly blend culture, creativity, sustainable development, and social innovation. Our efforts not only elevate the living standards of communities, but also foster a more sustainable and resilient future for all. This accelerated construction of a new paradigm for real estate development enables us to contribute innovatively to the vast urbanisation process.
New World rejuvenates cities by integrating industry and urban development; injecting fresh vitality through multiple urban renewal projects in the core cities of the Guangdong-Hong Kong-Macao Greater Bay Area. Departing from cookie-cutter development models, we imbue each project with cultural values, ingenuity, and foresight; crafting urban spaces that possess soul and substance. These endeavours open up new horizons for high-quality urban development, fostering creativity, and creating shared values for the sustainable development of society.
We firmly believe that commerce and innovation serve as vital engines for driving urban development. In 2024, we achieved a significant milestone by successfully bringing in multiple central and state-owned enterprises from Mainland China to expedite the development and construction of Hong Kong’s “Northern Metropolis”. This collaboration will give new momentum to Hong Kong’s long-term economic growth, enabling it to maintain a competitive edge within the global economic landscape.
New World remains optimistic about the consumption markets in Hong Kong and Mainland China, and is committed to serving the society by way of commerce and empowering cities through culture. Exemplifying this commitment is Shenzhen Shekou K11 ECOAST, the inaugural flagship project of K11 in Mainland China, which is poised to open its doors. With the fruition of multiple commercial projects, we are dedicated to meeting consumer needs, revitalising the retail sector, and driving long-term growth of our Group.
Adversity reveals courage, and perseverance brings success. New World would not have come this far without the efforts and contributions of every employee. Behind every seemingly ordinary figure lies extraordinary strength. On this occasion, I, along with my fellow board members, would like to express our profound gratitude for the diligent efforts and contributions of all employees across various departments. I also wish to extend my sincere appreciation to our board members for their unwavering commitment and to all stakeholders of the Group for their steadfast support.
Dr. Cheng Kar-Shun, Henry
Chairman
Hong Kong, China, 26 September 2024