New World Development, Chow Tai Fook to develop $1.2 bln Qianhai project

August 18, 2016 10:05 AM

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HONG KONG Aug 18 Property developer New World Development Co Ltd said it would team up with substantial shareholder Chow Tai Fook Enterprises Ltd to jointly develop a piece of land in Shenzhen's Qianhai district, a new free trade zone near Hong Kong that has attracted investment from both local and foreign firms.

In June, Hong Kong Exchanges and Clearing said it planned to build a physical metals trading platform in Qianhai.

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