SHKP to spend HK$32m on Chinese New Year, Valentine's Day promotions

Business | 10 Jan 2019 5:26 pm

Sun Hung Kai Properties (0016) plans to spend HK$31.67 million as promotion fee for Chinese New Year and Valentine's Day in its twelve shopping malls, representing 28 percent year-on-year growth.

Fiona Chung, general manager of Sun Hung Kai Real Estate Agency's leasing department, estimates to stimulate its sales revenue and foot traffic during the period to reach HK$890 million and 13.1 million in the twelve shopping malls, up 17 percent and 14 percent year-on-year respectively.

The twelve shopping mall includes East Point City, Landmark North, Harbour North, life@KCC, Park Central, Mikiki, PopWalk, Chelsea Heights, K-Point, Tsuen Kam Centre, Grand City Plaza and Blossom Garden.

The twelve major shopping malls saw 20 percent growth in sales revenue to HK$18.8 billion last year, with 16 percent foot traffic year-on-year increase to 430 million.

Chung expects the total sales revenue will continue to rise 13.8 percent year on year to HK$5.5 billion in the first quarter this year, while the foot traffic will grow 15.5 percent to 130 million.

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