New World Development Company Limited commenced the sales of its flagship Mainland project, Hangzhou’s New World City Arts Centre on 14 June, 2022. Its international community River Opus which offers 601 homes quickly sold out in the first round of sales, on the first day of its launch. The subscription amount exceeded RMB7 billion, breaking the record for the highest registration number for luxury residences in Hangzhou. It fully reflects the market’s confidence in New World Development’s brand and product quality, and injects confidence in the market amidst the rebound of the economy.
Echo Huang, Executive Director of New World Development Company Limited, and Director and Chief Executive Officer of New World China Land, said, “We are confident about the new round of economic growth, thanks to the strong support from government policies. We believe that our confidence can also be passed on - with the stellar results of the New World Hangzhou Arts Centre, we are breaking new ground and injecting confidence to the market. In the future, we will continue to focus on city-industry integration, and uphold our role as a city operator, in order to contribute to city development.”
Building Hangzhou’s Landmark and an All-new International Community
New World Hangzhou Arts Centre is located in Wangjiang New Town between West Lake and Qiantang River. Tasked with the important missions of urban renewal of the city centre of Hangzhou, and its entrance into the world stage, the landmark is the only integrated commercial and residential project encompassing New World’s five major businesses in mainland China with a total area of approximately 740,000 sqm. The project consists of its cultural-retail destination K11 Art Mall; a network of office buildings K11 ATELIER; luxury residences K11 ARTUS; Rosewood Hotel and the international community River Opus. The project enlisted Pritzker Prize-winning architect Shigeru Ban and RIBA (Royal Institute of British Architects) silver medallist Ole Scheeren to be involved in its architectural design.
The design is inspired by West Lake, Qiantang River, and Bagua Field, which are elements that represent Hangzhou as they resonate with the rich heritage of the city. The project perfectly integrates the five businesses and is seamlessly designed around transport, work, residence, and commerce, creating landmarks such as a destination for cultural and art enthusiasts, a Vertical Creative City, and a livable museum. It is set to become a lively and an all-new international landmark of Hangzhou, further infusing the city with greater imagination.
The first group of 601 owners of River Opus will activate Hangzhou’s New World Ecosystem. New World Development provides every prospective buyer who has successfully subscribed and each registered customer with “K分赏” (K Rewards China) as a token of appreciation. The received “K分赏” can be used in Chow Tai Fook and New World Development brands including their residences, retail complexes, and hotels. This is synonymous with receiving the golden key that unlocks the New World Ecosystem and its exclusive products and services.
Boosting Market Confidence and Solidifying Strategic Plans in Mainland China
The New World City Arts Centre has generated extremely strong purchasing power, showcasing the strong demand for high-quality property that the mainland China market possesses. As one of the first Hong Kong-based enterprises entering mainland China, New World Development has always been positive about the Mainland market. It will leverage its unique advantage as a developer-operator to integrate culture, art, nature and architecture, functions of cities, and industry upgrades to revitalise cities that cover the Greater Bay Area, the Yangtze River Delta and the Hangzhou Bay. In the future, the Group will continue to invest in the Mainland, with a focus on developing high-quality projects and products and services, with a view to making strong contributions to a healthy socio-economic development of mainland China.