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New World Development secures contract for HK$30B development

New World Development Co. Ltd. secured a contract for the design, construction and operation of Kai Tak Sports Park, which will cost about HK$30 billion.

The company won the 25-year contract through KTSPL, a 75/25 joint venture of its units New World Sports and NWS Sports, respectively.

The project spans about 28 hectares in the city hub and will include a large complex with sports, leisure, entertainment, retail and dining facilities.