New World Development: This year, two residential projects in North District have commenced construction, involving approximately 3,000 units to be sold in the fiscal year 2027

New World Development (00017.HK) released a business update for November and December. This year, the group has commenced two large residential projects in the Northern Metropolis, which will provide approximately 3,000 residential units, with plans to sell them in the fiscal year 2027, injecting growth momentum into future business development.

The group currently has a land reserve of approximately 15 million square feet, much of which is located in the Northern Metropolis area. Following the land exchange projects in Fanling Ma Shit Road and Yuen Long South, the group continues to accelerate the conversion of agricultural land reserves to fully unlock development value. Over 2 million square feet of attributable gross floor area will complete the land exchange process within the next 1 to 2 years, including the second plot of land for the Yuen Long South residential project and the Yuen Long Lam Kau Village project, to meet the group's short to medium-term business development needs.

Benefiting from advantageous geographical factors such as improved transportation and infrastructure, the group's progress in converting agricultural land reserves is ideal. The two large residential projects in the Northern Metropolis have commenced this year, including the large commercial and residential project at Fanling Ma Shit Road developed in collaboration with China Merchants Shekou Industrial Zone Holdings Co., Ltd., which will provide approximately 2,300 residential units and feature the largest shopping mall in the area, with a gross floor area of over 1.1 million square feet. Additionally, the first residential land developed in collaboration with China Resources Land (Overseas) Limited in Yuen Long South has also commenced, providing approximately 700 residential units with a gross floor area of nearly 280,000 square feet.

In mainland China, Wuhan Optics Valley K11 has launched globally limited merchandise for popular games such as "World of Warcraft," "Hearthstone," and "Overwatch." At the same time, the mall has transformed into an "eSports venue," hosting multiple gaming events, which drove a 16% year-on-year increase in foot traffic for the month, with a member conversion rate of 60%