---
title: "The Copper Ring Bay redevelopment project was unsold. New World: We will seek reasonable returns based on costs and benefits"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281457725.md"
description: "The redevelopment project of New World Development at Persian Gulf Street in Causeway Bay was left unsold at auction. The project was originally scheduled for compulsory auction this morning, but no bidders attended the site, and the auction was ultimately announced as canceled. A spokesperson for New World Development responded to inquiries, stating that the group will consider costs and benefits in a timely manner, taking into account market supply and demand, and will make prudent considerations to pursue reasonable returns"
datetime: "2026-04-02T02:59:33.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281457725.md)
  - [en](https://longbridge.com/en/news/281457725.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281457725.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/281457725.md) | [繁體中文](https://longbridge.com/zh-HK/news/281457725.md)


# The Copper Ring Bay redevelopment project was unsold. New World: We will seek reasonable returns based on costs and benefits

New World Development (00017.HK) failed to sell the redevelopment project on Percival Street in Causeway Bay. The project was originally scheduled for compulsory auction this morning, but no bidders attended the site, and the auction was ultimately announced as canceled.

A spokesperson for New World Development responded to inquiries, stating that the group will consider costs and benefits in a timely manner, taking into account market supply and demand, and will make prudent considerations to pursue reasonable returns

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