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Causeway Bay Redevelopment Project Fails to Attract Bids: NWD Says to Pursue Reasonable Returns Based on Costs & Benefits
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NEW WORLD DEV (00017.HK)’s redevelopment project on Percival Street in Causeway Bay failed to attract bids. This project was originally scheduled for compulsory auction this morning, but the auction was eventually cancelled as no bidders attended the session.

In response to enquiries, a spokesperson for NEW WORLD DEV said the group will make prudent considerations based on costs and benefits as well as market supply and demand in a timely manner to pursue reasonable returns.

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