New World Development wins approvals for nearly 7,000 homes in Hong Kong’s northern new towns

New World Development announced that planning permission has been granted for three residential projects in Hong Kong’s northern new towns – Fanling Ma Sik Road and two phases in Yuen Long South – allowing the construction of close to 7,000 housing units. The Fanling scheme, developed with China Merchants Shekou Holdings, will provide about 2,300 units across more than 1.1 million sq ft of floor space and will include the region’s largest mall. The Yuen Long South phases, undertaken with China Resources Land (overseas), will deliver roughly 1,900 units covering over 720,000 sq ft, with the first phase already under construction and slated for completion in 2029, and the second in 2030.

In addition, New World’s shared‑land project in Yongning Village has completed its preliminary planning and is set to create a small community of around 5,800 public‑private housing units. The group holds about 15 million sq ft of agricultural land reserve earmarked for conversion, and it expects to launch the new homes to the market in the 2027 fiscal year. The approvals expand the company’s footprint in Hong Kong’s North Metropolis development plan and aim to unlock land value while addressing housing demand.