New World Development Company Limited (“New World Development" or the “Group”; Hong Kong stock code: 00017) announced today that K11 MUSEA, its international cultural-retail landmark, is on track to complete the first stage of its brand upgrade programme by the end of this year. With a growing number of international brands opening new stores or expanding their footprint within the space, the programme has already driven significant growth in high-end retail sales. In the first half of 2026, K11 MUSEA recorded an approximately 40% year-on-year increase in sales, setting a new record for the same period since its opening. Notably, member spending in May hit a 2.5-year single-month high, while newly opened brands achieved an average sales growth of over 30%. Looking ahead, K11 MUSEA will continue to curate innovative cultural-retail experiences and brand activations, while further enhancing its bespoke services to target high-end customers.