NEW WORLD DEV (00017) subsidiary plans to sell two property units in Royal City.

NEW WORLD DEV (00017) announced that on February 11, 2025 (after trading hours), the seller Orient Sea Investments Limited (an indirect subsidiary of the company) accepted bid A and entered into agreement A with the buyer, whereby the seller agreed to sell and the buyer agreed to purchase Property A for a price of 7.5 million Hong Kong dollars. On February 11, 2025 (after trading hours), the seller (an indirect subsidiary of the company) accepted bid B and entered into agreement B with the buyer, whereby the seller agreed to sell and the buyer agreed to purchase Property B for a price of 7.369 million Hong Kong dollars. It is reported that Property A is a newly built residential unit on the 6th floor of the Royal Residence project, unit B8 with a connecting platform. The unit has a usable area of 314 square feet, with the platform covering an area of 87 square feet and includes a parking space (B1/FP91). Property B is a newly built residential unit on the 6th floor of the Royal Residence project, unit B9 with a connecting platform. The unit has a usable area of 306 square feet, with the platform covering an area of 88 square feet. The announcement stated that the company's board of directors believes that transactions A and B are opportunities for the group to expedite the realization of its land reserves and/or the value of its properties, generating additional operating funds to strengthen the group's liquidity and financial position.