New World Development Company Limited (New World) is an investment holding company. The Company, through its subsidiaries, is principally engaged in property investment and development, contracting, provision of services (including property and facility management, transport and other services), infrastructure operations (including the operation of roads, power plants, water treatment, waste management plants, container handling, logistics and warehousing services), telecommunication services, department store operations, hotel and restaurant operations and telecommunications, media, technology and strategic businesses. New World is organized into eight segments: property investment, property development, service, infrastructure, telecommunications, department stores, hotel operations, and others (including media and technology businesses). In March 2009, the Company, through New World China Land Limited (NWCL), acquired additional 50% interest in Faith Yard Property Limited.