New World China Land Appoints Adrian Cheng as Executive Chairman

HONG KONG,Feb. 12,2020 -- New World China Land Limited ("NWC" or "the Company") today announced that Dr. Adrian Cheng,Chi-Kong ("Adrian") is appointed Executive Chairman. Adrian will lead the Company to embark on a new chapter as it continues to expand its presence in Greater China.

In his role as Executive Vice-Chairman of the New World Development Company Limited,the parent company of New World China Land Limited,Adrian is committed to integrating all aspects of the New World Group's businesses to drive transformation in a range of industries across the region through the entire ecosystem it provides to local communities. During his tenure,Adrian has launched New World's The Artisanal Movement,and led the Company's large-scale developments including Victoria Dockside and Skycity.

In 2008,Adrian founded K11 Group,a museum-retail complex that transcends the limitations of traditional business model as the world's first original brand to pioneer the blend of three essential elements—Art,People and Nature. Adrian brings a new direction to the iconic properties developed and delivers an unprecedented experience to the public that inspires creativity,knowledge capital and social-economic value to the local communities the company serves. Dedicated to promoting the K11 brand concept,Adrian has plans to develop 36 projects across China by 2024,with projects in Shenzhen,Guangzhou,Beijing,Tianjin,and Ningbo.

In recent years,New World Group has become increasingly diversified,covering both infrastructure and services that touch the lives of local communities,including K11 cultural-retail,hospitality,healthcare,palliative care,education,insurance,and transportation services. As the flagship Mainland China property arm of the Group,NWC will make full use of its abundant resources and leverage the New World Ecosystem,echoing the Group's brand personality defined by The Artisanal Movement. The Group is also committed to meeting the targets of reducing energy and carbon intensity by 50% set out in the "New World Sustainability Vision 2030" by focusing on green buildings,sustainability,wellness and creating shared value with its stakeholders. The company combines heritage with innovation,builds iconic sustainable developments to inspire future generations,and nurtures communities that enable people to connect,collide and get inspired,bringing the soul of the city to life.

NWC is excited and confident about the future development of their China projects. "We are steadily increasing investment in the mainland Chinese market at a pace in line with local regulations. In first-tier or promising cities,we serve as a city operator to create unique and inspiring landmarks",said Dr. Adrian Cheng,Chi-Kong. "NWC will continue to respond favourably to national policies,integrate exceptional workmanship and sustainability features into projects,build vibrant communities,and bring the soul of the city to life. On the one hand,the company will make strategic developments in the Greater Bay Area that connects Guangdong Province,Hong Kong SAR and Macao SAR,Beijing-Tianjin-Hebei areas and the Yangtze River Delta. On the other hand,the company will continue to transform urban developments,and be guided by our long-term commitment to deliver sustainable projects and create shared value in the communities we serve."

Mr Adrian Cheng,Executive Vice-Chairman and General Manager of New World Development; Executive Chairman of New World China Land

New World Development

Founded in 1970,New World Development Company Limited ("The Group",Hong Kong stock code: 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 best defined by The Artisanal Movement,New World Group's core business areas include property development,property investment,roads,aviation and construction. Its operations in Greater China,especially the Greater Bay Area,had a total asset value of approximately HK$503.3 billion as at 30 June 2019. The Group's two listed companies are NWS Holdings Limited (61%),and New World Department Store China Limited (75%). New World China Land Limited is wholly owned by the Group.

New World China Land Limited

New World China Land Limited ("NWCL") is the flagship Mainland China property arm of Hong Kong-listed New World Development Company Limited,and an early Hong Kong pioneer entering the Mainland China property market. The NWCL vision is embodied by a humanistic spirit inspiring us to create fulfilling places and thriving cities that people love to call home. Guided by insight,we inject innovation into large-scale mixed-use commercial landmarks,offices,shopping centres,residential neighbourhoods and hotels while preserving local heritage,creating sustainable developments that allow people,city and nature to flourish in harmony. We bring the "Soul of the City" to life.

Photo - https://photos.prnasia.com/prnh/20200212/2718403-1?lang=0