Annual Report 2015
EXECUTIVE VICE-CHAIRMAN’S REPORT
29
rental performance of Shanghai
Hong Kong New World Tower.
F u r t h e r mo r e , p o s i t i v e r e n t a l
reversion has been achieved for
Wuhan New World International
Trade Tower upon tenancy renewal.
The abovementioned factors have
provided upside support to NWCL’s
rental businesses.
located in Guangzhou, Shenzhen,
Shenyang, Tianjin, Wuhan and Beijing.
The overall contracted property sales
of NWCL in FY2015 reached a total
GFA of 1,090,891 sq m and the
gross sales proceeds amounted to
RMB15.4 billion.
Du r i ng t he yea r unde r r ev i ew,
NWC L ’ s c omp l e t e d p r o p e r t y
development projects for sale in
Mainland China amounted to a
total GFA of 1,089,163 sq m, of
which residential GFA amounted
to 1,015,223 sq m. In FY2016, it is
anticipated to complete property
development projects totalling a GFA
of 1,254,982 sq m in Mainland China,
of which residential GFA will amount
to 1,047,432 sq m.
The opening of Shanghai K11 Art
Mall has stimulated the patronage,
o c c u p a n c y a n d e n h a n c e d t h e
New World China Land Limited
(“NWCL”) is the flagship Mainland
China property arm of the Group. The
development portfolio comprises 30
major projects spanning over several
large cities or major transportation
hubs in Mainland China. During the
year under review, NWCL achieved
a profit attributable to shareholders
of HK$3,313.1 million, representing a
decrease of 28.6% year-on-year.
Taking into account the attributable
revenue from the joint-development
projects, the revenue and segment
results from property development in
Mainland China during the year under
review amounted to HK$15,292.7
million and HK$4,837.7 million
respectively, representing a decrease
of 22.6% and 35.6% year-on-year.
The contributions from property
development in Mainland China
was mainly attributable to the sales
of residential units in the projects
