New World Development Company Limited
20
Execu t i ve V i ce - Cha i rman ’s Repo r t
Hong Kong Landbank
It is the Group’s policy to use various channels
to replenish its Hong Kong landbank. Apart from
public auction and tender, the Group has also
pu r s ued d i v e r s i f i ed mean s , i nc l ud i ng o l d
building acquisition and agricultural land usage
conversion, to secure a stable supply of land
resources for development. As at 30 June 2016,
the Group possessed a landbank with attributable
GFA of around 8.3 million sq ft for immediate
development. Of which, attributable residential
GFA amounted to approximately 4.6 million sq
f t . Me a nwh i l e , t h e G r o u p h a d a t o t a l o f
approximately 17.5 million sq ft of attributable
agricultural land area in the New Territories
pending for usage conversion.
The Group has been actively carrying out old
building acquisitions for sizeable redevelopment
projects. Acquisition of ownership of 4A-4P
Seymour Road in Mid-levels has been fully
consolidated under a joint-development old
building redevelopment project that the Group
has 35% stake. The site area is 52,466 sq ft. With
reference to the government’s latest town
planning, the permitted GFA of this project upon
redevelopment is approximately 472,000 sq ft of
which 165,300 sq ft is attributable to the Group.
Furthermore, acquisition of over 80% ownership
of 74–74C Waterloo Road and 15–25 Yau Moon
Street in Ho Man Tin has been completed under
a joint-development old building redevelopment
project that the Group has 51% stake. This
project has a site area of 10,682 sq ft. With
reference to the government’s latest town
planning, the expected attributable residential
GFA of this project upon redevelopment is
approximately 43,600 sq ft. This project has
proceeded to the court for compulsory sale
u n d e r t h e “ L a n d ( C o m p u l s o r y S a l e f o r
Redevelopment) Ordinance”.
