NewWorld Development Company Limited
EXECUTIVE VICE-CHAIRMAN’S REPORT
20
”THE PAVILIA HILL”, a contemporary
and premium project on Tin Hau
Temple Road in North Point, was
launched in October 2014. This key
project has been uniquely designed
to incorporate artisanal elements.
Under the delicacy of Shunmyo
Masuno, a renowned landscape
designer, and Koichiro Ikebuchi,
an interior designer, the project
brings in a unique and cosy feeling
for occupants. The project is highly
appealing to home buyers and has
received an overwhelming response
since its first launch. Over 93% of the
residential units were sold as at 13
September 2015.
“Double Cove Starview Prime”,
another new launch around the
same time as “THE PAVILIA HILL”,
is a joint-development project in
Ma On Shan that the Group has
32% stake and provides a total of
1,092 residential units. It is in close
proximity to Wu Kai Sha MTR Station
and is directly accessible from Ma
“Park Signature”, “The Woodsville”
and “The Reach” in Yuen Long, “The
Masterpiece” in Tsim Sha Tsui and
“Double Cove” in Ma On Shan.
During the year under review, the
Group has already surpassed FY2015
attributable contracted sales target
in Hong Kong of HK$12.0 billion,
attaining HK$17.2 billion. If the period
is calculated from January 2014
to December 2014, the Group’s
attributable contracted sales in Hong
Kong would have amounted to
HK$22.3 billion.
“G r a nd Au s t i n” i n Sou t hwe s t
Kowloon, which is a large-scale
and high-end development in close
proximity to the Hong Kong terminus
of the future Guangzhou-Shenzhen-
Hong Kong Exp r ess Ra i l L i nk ,
was launched in June 2014 with
overwhelming market responses,
over 99% of the residential units
were sold as at 13 September 2015.
embraced by the projects, the Group
strives to design customer-centric
products which we are proud of
and will be the best choice to home
buyers.
Toge t he r wi t h t he a t t r i bu t ab l e
revenue from the joint-development
projects, the Group’s revenue and
segment contributions from property
development in Hong Kong during
the year under review amounted to
HK$10,389.2 million and HK$3,295.1
million respectively, representing an
increase of 8.6% and 58.5% year-on-
year. The contributions from property
sales was mainly attributable to the
sales of residential units recognised
within this financial year, including
“The Austin” and “Grand Austin”
in Southwest Kowloon, “EIGHT
SOUTH LANE” in Kennedy Town,
“The Woodside” in Yuen Long and
“Double Cove Starview” in Ma On
Shan, together with the sales of
residential projects completed in
previous financial years including
