(23 October 2017, Hong Kong) New World China Land Limited (“NWCL” or “the Company”) is pleased to announce its successful bid on the rights to use a state-owned land parcel in Changgang Village, Yongning Street, Zengcheng District, Guangzhou (reference number: 83101229A17083). The total bid amounted to RMB 2.085 billion. A wholly-owned subsidiary of NWCL will be responsible for the subsequent development activities.
Covering a total area of 35,245 sq. m., this land parcel is located on Yongning Street, Zengcheng District, Guangzhou. Boasting a building area capacity of 250,000 sq. m., it will comprise a complex for commercial, business and Type II residential land use, with 138,500 sq. m. planned for business and commercial development, 87,500 sq. m. for residences (including public facilities), and 24,000 sq. m. for hotel facilities. NWCL aims to create an urban complex for business, commercial, residential and hotel use.
This project is poised to become the Company’s landmark commercial and residential complex in the eastern part of Guangzhou, supporting the government’s initiatives to strengthen the development of the city’s eastern hub. Located in the eastern CBD section of Guangzhou, this land parcel is conveniently situated in the vicinity of the Guangzhou–Dongguan–Shenzhen Intercity Railway, as well as subway lines 13 and 16, and is near to key rail lines between Guangzhou and Shenzhen, and Guangzhou and Shantou among a host of other rail line connections. Moreover, with its central location in the Guangzhou–Dongguan–Shenzhen area, the Zengcheng District is certain to benefit from favorable policies associated with the Guangdong–Hong Kong–Macau Greater Bay region in order to further bolster its economic potential and comprehensively enhance its overall status and value. The project’s blueprint also includes the construction of a Twin Tower at the major road junction. Designed with a focus on green spaces, the plan also includes the design of a hanging garden and a flexible architectural layout that incorporates green communal spaces along with work areas. At a height of over 240 metres, the Tower takes local environmental concerns and climatic issues into careful consideration by introducing energy-saving glass and sunshade components in the design of its facade. The project is set to usher in a wide array of creative enterprises to promote overall economic development in the Zengcheng District.
Mr. Adrian Cheng, Executive Vice-chairman and General Manager of New World Development Company Limited, said, “The Group will continue with the kind of craftsmanship that distinguishes ‘The Artisanal Movement’, combining creativity with tradition to further optimise assets, products and services across Mainland China. We will actively seek more opportunities and reinforce our brand and position throughout the mainland market to provide unique, tailored experiences for our customers and to generate greater value for the city.” Dr. Henry Cheng Kar-shun, Chairman and Executive Director of New World Development Company Limited, emphasises that “The Group has always been optimistic about China’s economic prospects. We are confident about the country’s future development and attach great importance to the mainland market. For this reason, we will move forward with our mainland and Hong Kong business projects, with the new Zengcheng project a strong symbol of New World’s continuing expansion throughout the Southern China region.”
As the flagship company of New World Development Company Limited to carry out business development and investments on the mainland, NWCL will further its development in China’s first- and second-tier cities as well as in real estate opportunities that offer rich potential.
The project’s expected total amount of investment is around RMB 5 billion.