New World China Land and New World CyberBase have formed a joint venture to provide Internet access, content and e-commerce services to residential households in the mainland. The 50-50 joint venture Cyber China initially will service residential properties managed and owned by New World China Land. New World China Land and New World CyberBase are controlled by New World Development. The services would first be implemented at the Palm Garden and Eastern Garden projects in Guangzhou and Beijing, according to Tommy Cheng, assistant general manager of New World China Land. Those projects involve 3,000 units, to be sold in phases starting from the second quarter, Mr Cheng said. The services would raise development costs by about $70 per square metre, he said. Cyber China has also acquired a 27.9 per cent stake in PRC Youth Holdings from Hon Kwok Land Investment. PRC Youth owns a 49 per cent stake in a Sino-foreign joint venture that intends to operate the prcyouth.com portal for PRC Youth Palaces in the mainland.