New World Development Company Limited

HONG KONG, CHINA--(Marketwired - May 25, 2017) - New World Development (HKSE : 17 ), a cultural enterprise and leader in property development, infrastructure and services, retail and hotels, today announced its plans for "Victoria Dockside," a US $2.6 billion, 3 million square feet art and design district on the promenade of Hong Kong's iconic Tsim Sha Tsui waterfront. Set to fully open in 2019, the mixed-use development will offer Grade A office space, an ultra-luxury Rosewood Hotel, Rosewood Residences, and premier art, design and leisure experiences with unmatched views of Victoria Harbour and Hong Kong Island. The new neighbourhood will reinvigorate the Victoria harbourfront and create a top destination for both Hong Kong residents and its 60 million annual visitors.

"We are committed to pushing new frontiers with Victoria Dockside," said Adrian Cheng, K11 Founder, Executive Vice-Chairman and General Manager of New World Development. "Victoria Dockside will offer a kaleidoscope of experiences against the backdrop of one of the most impressive views in the world. This new district will provide a space for locals and international visitors alike to unwind from the chaos of everyday life. Our vision is to make waves at this world-class destination by providing a blank canvas for artists, designers and businesses to maximise their creativity and help build one of the most exciting new neighbourhoods of tomorrow."

The Victoria Dockside masterplan was created by acclaimed architectural firm Kohn Pedersen Fox (KPF), renowned landscape architect James Corner Field Operations (JCFO) in collaboration with Adrian Cheng and over 100 designers and consultants across the globe. KPF helped shape Tokyo's Roppongi Hills and transform New York's Hudson Yards into the city's most exciting new neighbourhood. JCFO received worldwide acclaim for reclaiming and transforming New York's High Line into an elevated park, now one of the city's most popular attractions.

Victoria Dockside is built on the site formerly known as Holt's Wharf - a godown terminal next to the Kowloon and Canton Railway in Tsim Sha Tsui. Dating back to 1910, Holt's Wharf served as a global freight and logistics hub, connecting the city to the world. The site helped establish Hong Kong's reputation as the gateway to the Far East and played a major role in the city becoming the busiest port in the world.

Positioned to become a new global art and design district, the development's first-rate design is enhanced by its premier location on the Tsim Sha Tsui waterfront and near some of the most important cultural institutions in the city, including the Museum of Art, Cultural Centre, Salisbury Garden and Space Museum.

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About New World Development Company Limited

Founded in 1970, New World Development Company Limited ("The Group") (HKSE : 00017 ) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A premium brand infused with a unique personality defined by The Artisanal Movement, New World Group's core business areas include property development, infrastructure and services, retail, and hotels and serviced apartments. As at 31 December 2016, the total asset value of the Group amounted to HK$420.4 billion. The Group has an effective interest of approximately 61% in NWS Holdings Limited (HKSE : 00659 ), approximately 72% in New World Department Store China Limited (HKSE : 00825 ). New World China Land Limited is wholly owned by the Group.

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