--- title: "New World and CHINA RES LAND (Overseas) Yuen Long South residential project commenced, providing a total of 1,800 units" type: "News" locale: "en" url: "https://longbridge.com/en/news/266468890.md" description: "New World Development and China Resources Land (Overseas) have commenced construction on the Yuen Long South residential project, which will provide approximately 1,800 residential units. The project is located in the high-end professional services and logistics hub of North Metropolis, adjacent to Yuen Long city center. Huang Shaomei, Executive Director of New World Development, stated that this groundbreaking marks an important step in the group's development in North Metropolis and will continue to accelerate the release of agricultural land value through various means. Chang Ying, Vice President of China Resources Land, emphasized that the project will contribute to Hong Kong's economic and social development" datetime: "2025-11-19T02:45:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/266468890.md) - [en](https://longbridge.com/en/news/266468890.md) - [zh-HK](https://longbridge.com/zh-HK/news/266468890.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/266468890.md) | [繁體中文](https://longbridge.com/zh-HK/news/266468890.md) # New World and CHINA RES LAND (Overseas) Yuen Long South residential project commenced, providing a total of 1,800 units New World Development (00017.HK) and CHINA RES LAND (Overseas) have jointly developed the North District Yuen Long South residential project, with the first plot of land recently commencing construction after completing the land premium payment. The two projects can collectively provide approximately 1,800 residential units to meet the market demand for quality housing. The groundbreaking ceremony for the North District Yuen Long South residential project was co-hosted by Chang Ying, Vice President of CHINA RES LAND (01109.HK) and Chairman of CHINA RES LAND (Overseas), Huang Shaomei, Executive Director and CEO of New World Development, Wei Shaofan, Deputy Managing Director of CHINA RES LAND (Overseas), Xue Nanhai, Executive Director and Head of Property Development of New World Development, Wu Zhuhua, Project Director of CHINA RES LAND (Overseas), Liu Fuqiang, Executive Director, Chief Financial Officer, and Joint Company Secretary of New World Development, Li Xin, Chief Financial Officer of CHINA RES LAND (Overseas), Zhao Huixian, Executive Director and Head of Corporate Services of New World Development, Kong Jian, Director of Sales and Marketing of CHINA RES LAND (Overseas), Chen Zhiwei, Head of Project Management of New World Development's Project Management Department, and Lin Haowen, Director of Asset and Real Estate Portfolio Management of New World Development, along with other management members. Huang Shaomei, Executive Director and CEO of New World Development, stated: "New World Development currently has an agricultural land reserve of approximately 15 million square feet, with many located in prime areas of the North District. This groundbreaking ceremony marks an important step forward in the Group's development in the North District, creating maximum value for shareholders while aligning with national planning and fully supporting the development of the North District. The Group will continue to accelerate the release of agricultural land value through various means and actively introduce strategic partners to enhance overall development efficiency and expedite capital recovery." Chang Ying, Vice President and Chairman of CHINA RES LAND (Overseas), stated: "The Northern Metropolis is the new engine for Hong Kong's future development and a key support for the construction of the Guangdong-Hong Kong-Macao Greater Bay Area. CHINA RES LAND (Overseas) remains committed to its original intention as a central enterprise in Hong Kong, actively responding to national major strategies and the planning and deployment of the SAR government, promoting the successful implementation of the Yuen Long South residential plan, contributing to the construction of the Northern Metropolis, and providing greater support for the improvement of people's livelihoods and socio-economic development in Hong Kong." The Yuen Long South residential project, developed in cooperation between New World Development and CHINA RES LAND (Overseas), is located in the North District's "high-end professional services and logistics hub," adjacent to the well-developed Yuen Long city center. The total floor area of the project is approximately 720,000 square feet and will be developed in phases, with the first plot of land having completed the land premium payment, allowing for a buildable floor area of nearly 280,000 square feet, providing approximately 700 residential units, expected to be sold in the fiscal year 2027. 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