SHKP malls see 14pc revenue rise

Business | Gary Poon 13 Nov 2018

Sun Hung Kai Properties (0016) said revenues at its 12 major shopping malls increased 14 percent in the first three quarters to HK$12.5 billion.

Meanwhile, sales over the Christmas period (December 18 to 26) are expected to increase 25 percent year-on-year to HK$787 million.

General manager (leasing) of Sun Hung Kai Real Estate Agency Fiona Chung Sau-lin predicted that revenues at three Tuen Mun shopping malls would increase 30 percent in 2019 while revenues at Chelsea Heights Plaza would double after the mall expands its offerings.

She said North Point's Harbour North and Tuen Mun's Eight Regency shopping malls would open next month.

She said that 40 to 50 percent of their tenants now offer WeChat pay service, following an agreement with Tencent (0700) .

A sum of HK$47 million will be spent on Christmas promotions across the malls.

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