New World’s affordable housing project aimed at getting first-time buyers in Hong Kong on property ladder
- A proposal has been submitted to the Town Planning Board to build about 300 flats, with sizes ranging from 300 sq ft to 400 sq ft in Lam Hi Road, Yuen Long
- The project, which is still awaiting government approval, will be sold at cost to buyers who fulfil the eligibility criteria
New World Build for Good, the developer’s social enterprise unit, earlier this month submitted a proposal to the Town Planning Board to build about 300 flats, with sizes ranging from 300 square feet to 400 square feet, on a 30,300 sq ft site in Lam Hi Road, Yuen Long, according to an announcement on Monday.
It expects construction to start next year if everything goes according to plan, with the project likely to be completed as early as 2027.
“My vision is to start a new era in Hong Kong, by improving people’s housing issues and enabling the next generation to achieve the milestone of home ownership,” said Adrian Cheng, CEO of NWD and chairman of New World Build for Good. “We hope to refresh Hong Kong’s housing model and provide truly affordable homes for those in need.”
The site is about 10 minutes by bus from Yuen Long MTR station.
