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Retail properties

Hopewell Mall in Wan Chai, set for a soft opening next month, and will have an occupancy rate of more than 90 per cent. Photo: Handout

From Fila to Armani, brands snap up prime Hong Kong retail spaces

With rents as much as 65 per cent below historical highs, brands from Europe, the US and Japan see a chance to make a splash.

Hong Kong supermarket Uselect winds down operations amid relentless retail slump

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Sentiment in Hong Kong commercial property market up on lower rates, stock rally

Mainland Chinese retailers snag prime spots in Hong Kong at discounted rents

The slumping retail market is forcing landlords to extend deeper discounts, providing opportunities for brands to expand in the city.

The Balabala shop in Harbour City in Tsim Sha Tsui. Photo: Cheryl Arcibal

Hong Kong’s depressed commercial property market burns tycoons, investors

Hong Kong’s commercial property market has buckled under the crushing weight of China’s economic malaise, an exodus of global firms, a supply glut and high interest rates.

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Omega leases another Hong Kong shop amid retail leasing pickup

Swiss luxury watchmaker Omega is leasing another shop on Russell Street, once the world’s priciest retail strip, for US$51,404 a month.

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Bakehouse grows as its egg tarts offer salve in Hong Kong’s retail gloom

The Wan Chai-based bakery will spend about US$4 million to double its branches to 10 by the end of 2025.

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Customer enjoying a pastry outside a Bakehouse store, Causeway Bay. Photo: Alexander Mak.

Hong Kong’s Housing Authority sued over wet market’s unsanitary conditions

Statutory body accused of turning blind eye to water leakage, sewage pipe blockage and foul odour at market at Kwai Chung Shopping Centre.

Chinachem’s Nina Hospitality aims to move up market, eyes overseas expansion

Nina’s managing director said it is looking at expanding on the mainland and overseas, while becoming an upscale hotel group in Hong Kong.

Call to cut rent for Hong Kong shops by third amid sluggish sales

Industry leader Annie Tse calls for a 30 per cent reduction in rents, saying downward trend will continue to year end or even early 2025.

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A shopper browses clothes in Yau Tong. Photo: Jonathan Wong

Spanish retailer snags prime Hong Kong shop at 50% discount amid retail slump

The monthly rent for the 14,000 sq ft space at Asia Standard Tower in Queen’s Road Central is HK$1.25 million (US$160,220), 55 per cent lower than the all-time high in 2012.

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Spanish retailer Mango will occupy two levels at Asia Standard Tower in Queen’s Road Central from September. Photo: Jonathan Wong

Hong Kong home store chain Pricerite and Tom Lee Music shut branches

Pricerite, a major furniture and electrical appliances store, shuts two branches; Tom Lee Music also closes two shops.

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Chinese craft beer maker taps into Hong Kong’s frothy market

Hong Kong’s retail market, which is undergoing a shake-up, has seen an influx of mainland Chinese brands taking advantage of the declining rents.

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Mindful China shoppers embrace members-only retailers like Walmart’s Sam’s Club

Some bulk retailers on the mainland have carved out niche roles among shoppers, including bargain hunters from across the border in Hong Kong.

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Hongkongers have become more keen on heading north to shop in megastores such as this Sam’s Club across the border in Shenzhen. Photo: Eugene Lee

Manila’s gaming ban has property developers eyeing new growth

SM Prime is relying on fundamentals and remittances to drive growth as Manila prepares to kick out Chinese workers in the online gambling industry.

SM Mall of Asia in Pasay City, Philippines, is one of the largest shopping centres in the world. Photo: Handout

Hong Kong Exco convenor Regina Ip appeals for retail rent cuts to help businesses

Regina Ip says she and New People’s Party colleagues found 104 vacant stores and stalls in two shopping centres and market in Southern district

The richest Filipino family business sees China as the ‘growth driver’

The mainland is still teeming with opportunities in the commercial property market, despite its recent economic struggles, says Franklin Gomez of SM Investments.

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Heytea snaps up Mong Kok space as mainland brands step up Hong Kong expansion

New leases by mainland-based brands more than doubled in the first seven months of the year, according to JLL.

Pedestrians cross crowded Argyle Street in Mong Kok on January 2, 2024. Photo: Eugene Lee

State-backed firms are top buyers, new pillar in Beijing’s real estate market

State-backed companies have outgunned other investors in Beijing’s commercial property market, adding to their aggressive purchases in 2022 and 2023, according to Savills.

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Hong Kong retail: K-pop, K-dramas usher in growing demand for Korean restaurants

Korean F&B operators and retailers that have forayed into Hong Kong have made a significant contribution to the city’s retail segment.

Hongkong Land net loss widens 150% amid weak sales of mainland projects

The biggest landlord in Hong Kong’s Central district said its underlying loss was US$7 million for the first half after a US$295 million provision for development properties in mainland China.

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A view of Hongkong Land’s Landmark in Central. Photo: Jonathan Wong

Hang Lung Properties’ profit sinks 56% amid Hong Kong, mainland China slowdown

First-half net profit fell to HK$1.06 billion (US$135.7 million), from HK$2.39 billion a year earlier on lower rental revenues, higher costs.

Shares of Hang Lung Properties sank 12.7 per cent on Tuesday, the most in 24 years. Photo: Shutterstock

Prada to open huge outlet in Hong Kong’s K11 Musea after years of downsizing

The two-storey outlet in New World’s harbourfront luxury mall will be the Italian brand’s first in Hong Kong since it closed its flagship store in Causeway Bay in 2020.

Grocery chain 759 Store freezes investments, reviews lease deals after losses

Hong Kong grocery chain 759 Store is freezing major investment plans and reviewing tenancy agreements after it booked an annual net loss of HK$29.8 million

How the Hong Kong property market is bouncing back in 2024

Investors remain cautious, but government incentives have helped, high-value properties are continuing to find buyers, and the rental market is stable

Investors remain cautious but government incentives have helped the Hong Kong property market , with high-value properties continuing to find buyers and the rental market stable. Photo: SCMP

Hong Kong lawmakers call for lower rents as survey underlines ailing retail sector

Survey by New People’s Party shows districts near Shenzhen border hardest hit, confirms links between mainland spending and local store closures.

Wan Chai is one of the worst-hit areas, according to the survey by New People’s Party. Photo: Dickson Lee

Beijing’s retail tenants resist rent hikes to pre-pandemic levels

Many retailers are sensitive to the slightest hike in rents in a stalling economy, putting pressure on landlords to to cut prices, said Sun Tin, director and head of research at CBRE North China.

Hong Kong Transformers restaurant owner to keep going after shutting outlet

The operator of the Transformers-themed eatery says it has no intention of shutting down the Causeway Bay branch, after closing an outlet in Tseung Kwan O this month.

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Retail properties
Hong Kong ranks as the world's most expensive high-street retail destination with average rent of US$4,327 per sq ft per annum, surpassing New York, Paris, London and Tokyo by a substantial margin, according to the latest research from CBRE.
last updated:
9 September, 2024
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