New World Development Company Limited
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Execu t i ve V i ce - Cha i rman ’s Repo r t
Qianhai Chow Tai Fook Global Goods Shopping Center (“CTF
HOKO”), which has been jointly developed by wholly owned
subsidiaries of CTFE, Chow Tai Fook Jewellery Group Limited
and NWD, opened its phase 1 in December 2015. Located in
Qianhai, Shenzhen with a site area of approximately 11,000 sq m
and a total GFA of approximately 19,000 sq m, the project will
be completed in two phases, with phase 1 occupying a GFA
of 7,000 sq m and phase 2 occupying a GFA of 12,000 sq m
which has been soft launched in August 2016. An innovative
shopping platform which gathers online and offline resources
and integrates smartness, shopping and recreation, CTF
HOKO is a marketplace where Hong Kong merchants establish
their presence and primarily provide high-quality globally-
sourced commodities and Hong Kong-style services. It offers
a good variety of products to fully address the shopping,
catering and entertainment needs of families. Apart from
sales service available in a physical shop, online shopping
service is also available from a number of merchants under
“bonded display” and “cross-border e-commerce”, providing
consumers with the enjoyment and convenience under
diversified shopping options.
T he G r oup h a s be en op t i m i s t i c a bou t t he e c onom i c
prospects of Mainland China and is confident on the
development of the country. As our China property flagship
in Mainland China, NWCL will strengthen the investment in
key property projects with enormous development potential.
In August 2016, the Group and CTFE were awarded the
tender by Qianhai Authority to acquire the land use rights of
the land parcel T201-0092 at Qianhai Shenzhen-Hong Kong
Modern Service Industry Cooperation Zone, Shenzhen at a
consideration of RMB4,207.2 million. The joint venture,
owned as to 30% and 70% respectively by NWCL and a
wholly owned subsidiary of CTFE, is responsible for the
project development.
The project will be the second commercial project developed
by the Group following its CTF HOKO in that region. The
Group has also become the only Hong Kong brand which
develops more than one commercial project in Shenzhen
Qianhai Free Trade Zone.
T201-0092 is located in Guiwan area, being the core financial
business district in Qianhai, Shenzhen, and designated for
commercial use with a site area of approximately 18,218
sq m and permissible total GFA of 170,000 sq m, of which
148,360 sq m will be allocated for office use. It is the
intention of the Group to develop a financial and commercial
complex on the land. Pursuant to the terms of the tender,
among other things, out of the office premises to be
developed on the land, GFA of not less than 45,000 sq m but
not more than 55,000 sq m and out of the commercial
premises to be developed on the land, gross floor area of
not more than 1,000 sq m shall be sold one-off to a foreign
financial institution listed in Fortune 500 in 2015 as its
regional headquarter or functional headquarter. The Group
is in proactive negotiation with potential buyers.
As at 30 June 2016, the Group possessed a landbank (under
development or held for development) in Mainland China
with total GFA of around 11.0 million sq m, of which,
residential GFA amounted to approximately 5.7 million sq m.
Meanwhile, the Group had a total GFA of approximately 2.2
million sq m of completed investment properties in Mainland
China.
