New World Development Company Limited ("New World Development" or the "Group"; Hong Kong stock code: 00017) and China Merchants Land Limited ("China Merchants Land"; Hong Kong stock code: 00978) recently broke ground on their jointly developed property development project at Pak Shing Kok Ventilation Building, Tseung Kwan O. The project is expected to provide approximately 600 residential units, meeting the market's robust demand for high-quality homes.
The Groundbreaking Ceremony for the Pak Shing Kok Ventilation Building Property Development project, Tseung Kwan O was officiated by Nie Li-Ming, Managing Director of China Merchants Shekou Industrial Zone Holdings Co., Ltd. ("China Merchants Shekou"), together with senior management of New World Development and management members of other business partners.
New World Development said, "The Group is actively advancing its core real estate business and is committed to unlocking the value of our land bank, turning premium land resources into highly competitive development projects in the market. The Pak Shing Kok Ventilation Building Property Development project in Tseung Kwan O leverages the strengths and resources of the Group, China Merchants Land and business partners to create a vibrant and sustainable community. Moving forward, the Group will continue to work closely with strategic partners to enhance overall development efficiency and create long-term returns for our stakeholders."
Zhu Wen-Kai, Chairman of China Merchants Shekou and China Merchants Land, said, "Located next to MTR Hang Hau Station, the Pak Shing Kok Ventilation Building Property Development project in Tseung Kwan O enjoys convenient transport links and comprehensive community amenities. The project is expected to provide approximately 600 quality small and medium-sized homes, equipped with a clubhouse, parking, and a full suite of facilities, reflecting our commitment to making the best use of land resources while supporting community development. 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, we are creating liveable spaces, improving living conditions, and injecting new vitality into the community. We look forward to continuously deepening our collaboration with different parties in the future to contribute to the long-term prosperity and stability of Hong Kong."
The Pak Shing Kok Ventilation Building Property Development project in Tseung Kwan O is situated in a well-developed area of the town, adjacent to the MTR Hang Hau Station. The area boasts comprehensive community amenities. The development has a gross residential floor area of approximately 290,000 square feet and features a clubhouse and parking facilities, offering around 600 residential units.