NWD and China Merchants Land break ground on Tseung Kwan O residential project

New World Development (0017) and China Merchants Land (0978) broke ground at Pak Shing Kok Ventilation Building, Tseung Kwan O, for a joint residential project to supply about 600 units, amid robust demand for quality homes.

It is a 290,000 square feet project that sits next to MTR Hang Hau Station with convenient transport connections, and the 600 quality units are small-to-medium homes featuring a clubhouse, parking and a full range of supporting facilities.

The company is advancing its core property business and unlocking land bank value, converting premium land resources into market competitive developments. It will keep collaborating with strategic partners to lift development efficiency and deliver long-term returns for stakeholders, NWD said.

Zhu Wenkai, chairman of China Merchants Shekou and China Merchants Land, said China Merchants Shekou continues to leverage its Hong Kong platform—China Merchants Land, to fulfil its responsibilities as a central state-owned enterprise operating in Hong Kong.

"By joining hands with New World Development and MTR Corporation (0066), we are creating liveable spaces, improving living conditions, and injecting new vitality into the community." Zhu added.

Frank Feng

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