New World China Denies Leaving Guangzhou Nanji Village Renewal Project Worth RMB 4.771 Billion

Recent market rumors suggested that New World China would withdraw from the Nanji Village urban renewal project in Guangzhou's Haizhu District. On August 10, New World China responded that it currently has no plans to exit the project, noting that progress involves multi-party communication and that it is in discussions with relevant government departments.

Public information shows that the Nanji Village urban renewal project is a key city-update initiative in Haizhu District, forming part of the Lianxing Village redevelopment scheme. The project covers a total land area of 21.3 hectares, involves 1,079 households and 2,805 registered residents, with overall redevelopment investment reaching RMB 4.771 billion.

The project was launched in 2018 after villagers approved the renovation through a consent vote, and New World China prevailed after multiple rounds of selection. In July 2021, a public investment recruitment announcement was issued, and the recruitment process was completed in August and September of that year, with New World China officially becoming the project's partner enterprise.

Under the recruitment obligations, New World China must ensure that construction of relocation housing starts by December 31, 2025, and that the housing is largely completed by the end of 2030. The requirements also specify phased demolition, plan approval and agreement signing tasks. However, no official implementation plan has been published to date. In September 2024, consultation was held on the implementation plan.

In May 2026, Guangzhou issued the Notice on Exit Arrangements for Old-Model Urban Village Renovation Projects, which stipulates that projects without approved plans must complete contract termination by the end of June 2026; where no agreement is reached, judicial procedures must be initiated by the end of August. Projects with approved plans must complete termination by the end of August 2026; where no agreement is reached, judicial procedures must be initiated by the end of December.