Property News · August 22, 2017

New World Development plans US$3.2b ‘emerging industrial cluster’ in Kowloon East


New World Development is planning to invest HK$25 billion (US$3.2 billion) to create an “emerging industrial cluster” that will feature co-working concept developments in Kowloon East designed to woo innovative technology start-ups.
The developer, chaired by Hong Kong’s third richest family of Henry Cheng Kar-shun, unveiled the plan after it successfully acquired a commercial site for HK$2.97 billion (US$397.2 million) in Cheung Sha Wan by government tender last week, raising…

Source : South China Morning Post
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