New World Group claims top prizes at Real Estate Asia Awards 2025 for three-pillar sustainability strategy

They exemplified strong commitment to sustainability and ESG leadership in Hong Kong and Mainland China.

Leveraging its sustainability strategy and projects, New World China Land Limited and New World Development Company Limited were declared the winners in two categories at the Real Estate Asia Awards 2025 – Sustainable Development of the Year - China and ESG Initiative of the Year - Hong Kong, respectively.

Bold climate and ESG commitments

Embarking on its Sustainability Vision 2030+ (SV2030+), New World Development created an initiative that aims to integrate environmental, social, and governance (ESG) principles into its core operations, supported by three pillars—Future-Fit Places, Organisational Resilience, and Enriched Lives.

Under the overall strategy, Future-Fit Places will drive the company to design, build, and operate high-quality developments by integrating climate resilience, low-carbon, and natural resource-conservation goals by fiscal year 2030. Meanwhile, all assets and operations should comply with Net Zero Scope 1, 2, and 3 emissions by FY2050.

In terms of climate resilience, the company in 2024 completed an analysis of climate hazards’ impact on its 200 assets and locations, leveraging third-party climate projections and scenarios such as IPCC SSP1-2.6, IPCC SSP5-8.5, NGFS Net Zero 2050.

The group also consolidated its energy and emissions reduction targets, covering properties and construction operations in Hong Kong and Mainland China. Following its Renewable Energy Roadmap, the company aims to have adopted 100% renewable energy amongst its rental properties by the end of FY 2025-2026, and expanded this portfolio to the rest of Greater China by the end of FY 2030-2031. To achieve these renewable energy goals, the company will combine on-site solar installations and use renewable sources off-site.

Achieving these targets will also accomplish the developer’s decarbonisation goal of reducing Scope 3 emissions in the leased assets by 51.6% per square metre by FY2030 (FY2023 baseline).

Applying strategies to an ongoing project

New World China has applied its sustainability strategy to the Hangzhou New World Arts Centre, New World China’s landmark mixed-use complex in Hangzhou. The project represents a total investment of more than 23 billion renminbi (US$3.185b) and spans approximately 740,000 sqm.

The development integrates art-infused retail, Grade A offices, luxury serviced residences, an ultra-luxury hotel, and an international residential community, alongside a preserved historic public building and the Central Green Corridor-Long Embankment.

The project, whose construction began in 2020 and is set to finish by 2026, has achieved 4 LEED Gold certifications whilst referencing WELL Gold, SITE Gold and China Green Building Label 3 Star standards.

To minimise the project’s environmental impact, green solutions such as heating/cooling systems and lighting controls were used to reduce energy consumption by 20% versus industry baselines, and 281,681 kWh in annual heat recovery savings via exhaust heat recovery and boiler systems. Solar pergolas, PV panels, and air-source heat pumps are expected to deliver 1,285,605 kWh/year in renewable energy.

To support water management and mitigate urban flooding, irrigation and gardens around the property will reuse 100% rainwater.

During the development’s construction, the company will use 25% recycled content and low-volatile organic compound finishes. The bamboo formwork currently reduces waste and stores 1.65t CO2 per ton, and will be upcycled after the project.

Real Estate Asia Awards honours outstanding real estate projects, developments, and companies throughout Asia that redefine the standards of excellence in the industry.

The Real Estate Asia Awards is presented by Real Estate Asia Magazine. To view the full list of winners, click here. If you want to join the 2026 awards programme and be acclaimed for your company's exceptional projects or initiatives in the Real Estate industry, please contact Julie Anne Nuñez at [email protected].