New World China Land seeks 20b in sales this fiscal year

The 128,683 square meter developable area, the first central area sold on Huaihai Road in more than two decades, is to be built into a luxury commercial complex highlighted with artistic and cultural elements.

New World China said it will focus on the parallel structure of sales and rentals to achieve a balance between property sales, land costs and self-owned projects.

By doing so, their project development pace has been quickly accelerated, while still being able to maintain its own unique designs, she said.

Localizations are what drive the company to move faster than many of its peers. Huang said one of the incentives is to build a strong team of local talents on the mainland. The integration between designers and engineers with overseas backgrounds and young local designers in major cities on the mainland has greatly enhanced the execution of their projects.

Huang said they have strong confidence in the Chinese economy in the future. In the post-pandemic era, strong demands for property development, tourism and retail will be further unleashed.

"The pandemic will not alter the urban layout nor plans, yet it will change how we think living in the cloud — the trend of moving work, education, medical care, movies or even tourism online," Huang said, recognizing the impact of online shopping on retail complexes.

How people shop also spurs the innovation of their commercial complex brand K11. "Each K11 Art Mall will become a unique destination, where visitors can not only shop and eat, they can also explore art and culture, children-friendly facilities and nature," Huang said.