New World Development Company Limited
EXECUTIVE VICE-CHAIRMAN’S REPORT
6
MOUNT PAVILIA, a project of the Group at a luxury residence on Clear Water Bay, will provide 680 residential units
offering a blended mix of layouts. Apart from the aforesaid, the Group also plans to launch new residential projects
including “FLEUR PAVILIA” in North Point, “Double Cove Summit” in Ma On Shan and Tsuen Wan West Station
project, to bring strong momentum to the Group’s Hong Kong property sales business.
Hong Kong Landbank
The Group has made use of various channels to replenish its Hong Kong landbank. Apart from public auction and tender,
the Group has also pursued diversified means, including old building acquisition and agricultural land conversion, so 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 31 December 2015, the Group possessed a landbank with attributable GFA of around 8.9 million
sq ft for immediate development. Of which, attributable residential GFA amounted to approximately 5.3 million sq ft.
Meanwhile, the Group had a total of approximately 17.0 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.
Attributable
GFA
Landbank by location
(sq ft)
Central and Western District
175,346
Eastern District
1,053,888
Yau Tsim Mong District and Kwun Tong District
3,605,269
Tsuen Wan District, Yuen Long District and Tuen Mun District
786,180
Sha Tin District and Sai Kung District
3,220,188
Others
107,920
Total
8,948,791
Total
land area
Attributable
land area
Agricultural landbank by location
(sq ft)
(sq ft)
Yuen Long District
12,951,976
11,949,418
Fanling District
2,329,460
1,987,460
Sha Tin District and Tai Po District
1,945,090
1,945,090
Sai Kung District
1,357,540
1,160,529
Tuen Mun District
28,260
28,260
Total
18,612,326
17,070,757
The Group has been actively carrying out old building acquisitions for sizeable redevelopment projects. Acquisition of
over 80% ownership of 4A-4P Seymour Road in Mid-levels has been completed 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 attributable GFA of this project upon redevelopment is approximately 472,000 sq ft
and 165,300 sq ft attributable for the Group. This project has proceeded to the court for compulsory sale under the “Land
(Compulsory Sale for Redevelopment) Ordinance”.
