The New Territories accounts for about half of Hong Kong's population, but the region comprises almost 90 per cent of the city's total area. As Hong Kong becomes ever-more cramped, it is not surprising for people to turn to a little more living space. Transport is convenient. For example, Sham Tseng residents, living in properties such as Westminster Terrace and Royal Sea Crest, can reach Central in less than an hour. Thanks to the more than HK$10 billion the developers paid in a series of auctions, one of the most eagerly awaited new projects this year is Providence Bay at Pak Shek Kok, by Tolo Harbour. The low-density project, including houses designed by British architect Norman Foster, is jointly developed by Sino Land, Nan Fung Development, Wing Tai and K Wah. 'Waterfront luxury properties are always sought after by wealthy families. We have designed our project based on some of the world's best waterfront properties,' says Victor Tin, general manager of sales at Sino Land. Proximity to the mainland is a major advantage of properties in the New Territories. 'Shenzhen is being developed into a major hi-tech and financial centre. The New Territories is part of the swift development within the Shenzhen-Zhuhai-Hong Kong triangle,' says William Kwok Chi-wai, executive director of Cheung Kong. Cheung Kong's new project in the area, the 734-unit Uptown development, is positioning itself as benefiting from the 'One-hour China-Hong Kong lifestyle circle'. Valais, by Sun Hung Kai Properties, is popular with buyers who cross the border regularly. Most of its 300 houses have been sold for more than HK$10 billion.