NWD begins construction on 2,500 homes this month

New World Development (0017) started construction on a total of 2,500 residential units in Hong Kong this March, including the latest two projects under the Bohemian Collection series, located in West Kowloon.

Following the groundbreaking of the Pavilia Collection project in the Northern Metropolis last week, the Bohemian Collection projects located on Canton Road and Kwun Chung Street also recently held their groundbreaking ceremonies.

The group plans to speed up capital recovery in Hong Kong and Mainland markets, with key projects like The Southside phase five at Wong Chuk Hang and the Nga Tsin Long Road project in Kowloon City. Sales preparations for around 1,000 units are already underway.

Meanwhile, The Pavilia Forest in Kai Tak, jointly developed by New World Development and Far East Consortium International (0035), has sold approximately 540 units as of March 24 this year, generating nearly HK$4 billion. 

State Pavilia in North Point, also under the same group, has sold a total of 300 units, accounting for over 90 percent of the available units, cashing over HK$3.37 billion as of the same date.