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  • Jul 24, 2014
  • Updated: 12:32am

New World Development

New World Development Co (HK stock code 0017) is a Hong Kong conglomerate with operations in property, infrastructure, transport, retailing telecommunications and bus and ferry operations.It is controlled by Chow Tai Food, a holding company owned by businessman Cheng Yu-tung.

Get a private lift out of your $150m home

PUBLISHED : Wednesday, 22 February, 2006, 12:00am
UPDATED : Wednesday, 22 February, 2006, 12:00am

In an offer targeted at the super-affluent, New World Development is selling three Deep Water Bay homes, each with its own elevator


Wealthy homeowners tired of having to climb the stairs to get to their bedrooms after a hard day's work might be interested in a house with its own lift. This is exactly what New World Development is offering in its luxury 33 Island Road development in Deep Water Bay in a bid to attract cash-rich home seekers.


The developer sold seven of these three-storey luxury homes last year, and is now offering three more.


'Most potential buyers [of top-notch houses] are reaching their middle age and [are] keen to enjoy life. With a private lift inside the house, [this is] definitely a big advantage for us,' said Barbara Ho Ng Yin-yue, New World's sales and marketing director.


'Owners will find it very convenient, particularly those families with elderly members.'


The three houses, each measuring 6,079 square feet, are on offer for $26,000 per sq ft, or $150 million each.


On sale are houses No 3, 5 and 6, each with a garden ranging in size from 2,389 sq ft to 2,587 sq ft, unobstructed sea views and ceilings four metres high.


Each house has four bedrooms, two of which have en suite bathrooms, jacuzzis and steam showers.


Ms Ho said each garden was big enough to contain a swimming pool.


The buyer of the show flat, house No 3, will be required to pay an additional $7million for the interior decoration and furniture, she said.


Property agents said targeted buyers had their own considerations when seeking a dream home.


'These buyers love prestigious locations as it is a kind of status symbol,' said Gary Yeung, Island South and The Peak sales director for Midland Realty. Other considerations are whether [there is] sufficient space separating each house to protect their privacy.


'They will also [be concerned with] the security measures provided by the management office.'


For this price, he said, buyers had other choices.


Houses at the nearby development 40 Island Road are being offered for a similar price, but they are 5,000 sq ft.


'New World's pricing for the remaining three houses [at 33 Island Road] are in line with the market,' Mr Yeung said, adding that the supply of 6,000 sq ft houses in Deep Water Bay was relatively limited.


Those who are not set on living within walking distance of the beach might consider living on The Peak.


Sun Hung Kai Properties (SHKP) will this year release its 8 Severn Road development on The Peak, consisting of 22 Italian-style homes ranging in size from 3,300 sq ft to 5,100 sq ft.


All the houses have views of Victoria Harbour and the green hills of The Peak.


SHKP has said prices will be set at about $28,000 per sq ft.


The three houses at 33 Island Road were put on sale on February 10, but so far none of them have been sold.


'It takes time as these prestigious properties involve a large lump sum payment,' said Clarence Chow, regional associate director at Centaline Property Agency.


Angela Leong On-kei, the fourth wife of casino mogul Stanley Ho Hung-sun, bought House No 1 at 33 Island Road last year as an investment property.


It is understood the house is being rented out for about $280,000 a month.


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