New World Development Secures a Trio of Urban Renewal Projects Accelerates Ecosystem Expansion in the Greater Bay Area

HONG KONG,Dec. 21,2021 -- New World Development Company Limited ("New World Development" or "Group") announced today that in 2021 Q4 alone,its mainland China property development flagship New World China Land Limited ("New World China") has successfully secured three important urban renewal projects in the Greater Bay Area. They include the Longgang District urban renewal project in Shenzhen; the Guangqiao Food Factory urban renewal project,also in Shenzhen; and the redevelopment project of the Guangdong No.2 People's Hospital.

The Group's development strategy of deepening investment in the construction of the Greater Bay Area has been strongly supported by national policies. In a recently issued notice on property development risk,jointly published by The People's Bank of China and the China Banking and Insurance Regulatory Commission,it is highlighted that well-positioned property companies are encouraged to acquire real estate projects from companies with higher debt,while also urging financial institutions to strengthen financial support for such acquisitions. With its strong financial positions and development background,New World China Land has successfully scooped up three quality projects in the Greater Bay Area in one financial quarter alone,further demonstrating its ability to respond to national policies,seize market opportunities,while confirming its will to actively participate in the upgrade and development of the Greater Bay Area.

Longgang District Project: 650,000SQM Behemoth that Promotes Industry Upgrade in Shenzhen East

Set to become an integrated landmark of low-density residential projects and innovative industries,the urban renewal project in Longgang District's 188 Industrial Zone is co-developed by New World China and Shenzhen Witland Holding Group,with construction expected to commence at as early as the end of 2022. Covering 650,000 sqm in Gross Floor Area on Yuanshan Road of the Longgang District,the project is dubbed the "Shenzhen Urban Renewal Behemoth" and is conveniently linked with the Shenzhen Metro Line 3,providing direct connectivity to the Shenzhen East Railway Station,Futian High Speed Rail Station and Futian Port. The project commands a superior location and is designed to fully meet the traffic demand of Shenzhen and the rest of the Greater Bay Area.

With the goal of creating an integrated landmark in Shenzhen East,New World China will introduce to the project New World Group's network and experience in city infrastructure,education,innovative technology,healthcare and wellness,innovative finance,and more. In addition,the project is a response to the development blueprint of the Longgang District,which centres around its high-tech industry and will enrich the district's residential,commercial,offices,education and other areas,creating a high-quality,international community in Shenzhen East,completely upgrading the area.

Guangqiao Food Factory Project: Elite Community for Technology Talent

The Quangqiao Food Factory renewal project is situated in the Guangming Science City area,adjacent to the Shenzhen Xinming Hospital station of Shenzhen Metro Line 6 extension,and the Guangzhou-Shenzhen-Hong Kong Express Rail Link,enjoying superior connectivity. It covers approximately 50,000 square metres in Gross Floor Area. Once completed,the renewal project will add 160,000 square metres of Saleable Floor Area to the Group.

Situated in the core area of the International Science and Technology Innovation Centre of the Greater Bay Area,and as part of the Comprehensive National Science Centre,Guangming Science City is positioned as "World's Top Science City". The area is poised to become one of the world's most influential science,technology and industry development centres,creating an elite community where top technology talent can call home. New World China will inject the Group's expertise in elite education programme to meet the residents' demand for high quality education,create a highly liveable community,and further attract talent to the science city.

Guangdong No.2 People's Hospital Redevelopment Project: Promoting the Healthcare and Wellness Services Industry in the Greater Bay Area

The redevelopment plan of the Guangdong No.2 People's Hospital,located in the Haizhu district of Guangzhou,will be jointly developed by New World China and Talent Holdings. When completed,the project will help solve the decades-old problem of the near-saturation of hospital construction space,while also meeting the future development needs of medical research,medical exchanges and emergency medical care in the province. Moreover,the redevelopment plan may also entail the construction of the Guangdong International Medical Centre and the Healthcare Services Centre,to greatly enhance its capacity for medical research and emergency medical services. Through the transformation of housing and other facilities,the project is also set to improve the living environment of healthcare staff.

The Group has long had an invested interest in the healthcare and wellness industry,and has entered a long-term strategic partnership with the First Affiliated Hospital,Sun Yat-sen University,through which a number of collaborations in the fields of clinical medicine,public health and healthcare have been created. In addition,New World's ecosystem also includes a number of healthcare and wellness brands,including the Gleneagles Hospital,health and wellness concept Humansa,among others. The redevelopment project will therefore further enrich New World's ecosystem,and benefit significantly from the Group's experience in health and wellness,and urban renewal. The Group is well positioned to actively promote the development of healthcare and wellness services in the Greater Bay Area.

Deepening Greater Bay Area Footprint – Seizing "14th Five-Year Plan" Opportunities

As one of the earliest Hong Kong developers to expand into mainland China,New World has long been actively participating in the comprehensive development and urban renewal projects in the Greater Bay Area. It currently has a Greater Bay Area landbank of over 3 million square metres and is the area's most active Hong Kong-based developers.

Moving forward,the Group vows to continue to seize growth opportunities of the 14th Five-Year Plan,and support the Hong Kong SAR government in the development of the Northern Metropolis. New World Development will bring about its experience and expertise in city-industry integration and actively participate in city infrastructure of the Greater Bay Area,promoting linkages and development within the area. The Group will also uphold its vision of Creating Shared Value,and continue to connect business success with social progress,creating more value for all stakeholders.

About New World Development Company Limited:

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 investment in property and property development,and investment in and/or operation of roads,commercial aircraft leasing,construction,insurance,hotels and other strategic businesses. Its Greater China operations,especially in the Greater Bay Area,had a total asset value of approximately HK$627 billion as at 30 June 2021. 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.