Editing New World Development (section)

===Hung Hom Peninsula===

The Hung Hom Peninsula was sold for a below-market land premium of HK$864 million to New World Development, who subsequently sold off half share to [[Sun Hung Kai Properties]]. In 2004, the consortium announced the demolition of these buildings to make way for luxury apartments, to be faced with huge popular outcry about the needless destruction of "perfectly good buildings" to satisfy "corporate greed". In an unprecedented about-turn, the developers withdrew the plan on 10 December 2004.<ref>{{cite news | last = Ng | first = Michael & Teddy | title = Demolition of Hung Hom flats scrapped | date = 11 December 2004 | newspaper = The Standard | url = http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=14974&sid=&con_type=1&d_str=20041211&sear_year=2004 | access-date = 2007-01-29 | url-status = dead | archive-url = https://web.archive.org/web/20110522032001/http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=14974&sid=&con_type=1&d_str=20041211&sear_year=2004 | archive-date = 22 May 2011 | df = dmy-all }}</ref>