K11 plans projects on back of rising demand

K11, a subsidiary of New World Development, said it plans to build 21 new projects nationwide by fiscal 2026, with a business focus on the Guangdong-Hong Kong-Macao Greater Bay Area, as the company is bullish on the growth potential of consumer spending.

Based in Hong Kong, K11 said it expects to achieve a compound annual growth rate of 30 percent between fiscal 2021 and fiscal 2026.

As one of the company's major projects, the Hangzhou Wangjiang New Town project, due to open in 2026, is its first such project in the provincial capital of Zhejiang province.