Hong Kong's Chow Tai Fook Unveils Luxury Apartments in Beijing

Hong Kong's Chow Tai Fook Unveils Luxury Apartments in Beijing

September 20, 2006

    BEIJING, China, Sept. 20 /Xinhua-PRNewswire/ --
Jewellery giant Chow Tai Fook Group, the privately held
enterprise of New World Development Chairman Cheng Yu-Tung,
has rolled out its luxury apartments project in Beijing. The
project, named Shadow Creek, consists of 89 luxury villas in
the first phase, with a selling price expected to be around
USD6,000 per square meter.

    With the liberalization of China's economic policy,
Chow Tai Fook Enterprises Limited has been expanding its
investments in China during the past few years.  Up until
now, CTF Group and New World Group have invested over US$7
billion in China.

    Nestled along the right bank of Beijing's Wenyu River,
Shadow Creek, has a total construction area of 76,000
square meters offering an 8,000 square meter lake, 11-meter
high ceilings, European-style private gardens, private
swimming pools, private saunas, hot spring water, deluxe
penthouse master bedrooms and clubhouse-style
multi-function basements.

    "Jewellery and luxury properties are closely
bonded since both represent the lifestyle of wealthy
elites, and I'm confident about the market potential thanks
to the booming demand on the mainland," said Cheng
Yu-tung, founder and group Chairman on the sidelines of
Shadow Creek's unveiling ceremony just this past Sunday.

    Other high-end residential properties in Beijing
developed by flagship real estate developer New World China
Land focus on the key market segments of the high-end
market.  Their Shunyi villa complex, Chateau Regalia has
attracted multinational executives, embassy officials and
other wealthy elites to live there, taking advantages of
its natural surroundings and proximity to the airport.  The
newly renamed Roseburg property, previously named Chateau
Regalia Apartments, is a group of serviced-apartments
focused on young, trendy expatriate and Chinese
professionals.  It is adjacent to the Airport Expressway
and in the vicinity of Riverville Square, a shopping and
leisure mall with supermarket, spa centre and other
attractions, also developed by New World. 

    Dr Cheng said, "New World China Land, the mainland
property arm of Hong Kong-listed New World Development will
roll out more property projects over a long term, showing
its commitment to the investment in the mainland."

    About Chow Tai Fook Group

    Chow Tai Fook Group is the privately-held conglomerate
of Cheng Yu-Tung with a total assets of over five billion
USD.  Its unit Chow Tai Fook Jewellery Co Ltd has set up
over 500 outlets in the mainland, Hong Kong, Macau and
Taiwan, with annual sales reaching one billion USD and it
also has diversified operations in real estate, vehicle,
hotel, telecommunications and retailing.  Its unit Chow Tai
Fook Enterprises Ltd owns a controlling 38% interest in Hong
Kong-listed New World Group.  http://www.chowtaifook.com .

    About New World China Land 

    Hong Kong listed New World China Land (HK 0917) is
mainland China's property flagship of the New World Group
with a total asset base of about HKD32.1 billion and its
real estate portfolio comprises 37 development projects
spanning over 17 high-growth cities since its entry into
the mainland China property market since the early 1980s.
Website for New World China Land http://www.nwcl.com.hk .
Website for Chateau Regalia: 
http://www.chateauregalia.com/

    Note to Editors£º Pictures of all properties mentioned,
available upon request.

    For more information, please contact:

     Eileen Yan
     Tel:    [phone]
     Mobile: [phone]
     Email:  [e-mail]

SOURCE  New World China Land