NewWorld Development Company Limited
EXECUTIVE VICE-CHAIRMAN’S REPORT
22
Du r i ng t he yea r unde r r ev i ew,
the Group won the tender for the
p r ope r t y deve l opmen t p r o j ec t
atop the Tai Wai Station of MTR
Corporation Limited at HK$2,856.0
million. With a total GFA of 2,050,327
sq ft, the project will comprise at
least 2,900 residential units. Located
in the core district of Sha Tin, the
project will be conveniently situated
at the intersecting point of the MTR’s
“North-South Corridor” and “East-
West Corridor”, which are the rail
lines running between Lo Wu and
Admiralty and between Wu Kai Sha
and Tuen Mun respectively, upon
completion of the Sha Tin to Central
Link.
In past years, the Group has been
actively carrying out large-scale old
building acquisitions. The Group
completed the acquisition of several
residential projects on Hong Kong
Island in recent years. During the
year under review, the title unification
of 704-730 King’s Road (previously
named as “Kut Cheong Mansion”)
in North Point was completed in
the third quarter of 2014. In January
2015, the Group invested HK$1,779.0
million to further acquire 40% equity
interests in Sunbig Limited from
Chow Tai Fook Enterprises Limited
HONG KONG LANDBANK
The Group has made use of multiple
channels to replenish its Hong
Kong landbank. Apart from public
auction and tender, the Group has
also pursued diversified means for
development, including old building
acquisition and agricultural land
conversion, that a stable supply of
land resources will be available to the
Group for property development as
well as strategic planning in the long
run.
As at 30 June 2015, the Group
p o s s e s s e d a l a n d b a n k w i t h
attributable GFA of around 8.8 million
sq ft for immediate development. Of
which, attributable GFA for residential
property development amounted
to approximately 5.2 million sq ft.
Meanwhile, the Group had a total
of approximately 18.2 million sq
ft of attributable agricultural land
area reserve in the New Territories
pending for conversion, which are
mainly located in the northwest of
New Territories.
