New World Development (0017) announced that the office tower of its large-scale K11 ELYSEA integrated development in Shanghai is expected to welcome tenants in the second half of this year, with the pre-leasing rate exceeding 50 percent.
Meanwhile, K11 projects across the mainland have shown significant growth. Guangzhou K11's total sales surged 37 percent, and footfall rose nearly 20 percent year-on-year after the brand's upgrade. Guangzhou Hanxi K11 also attracted 50 percent of customers month-on-month through cultivating an immersive shopping experience.
Hong Kong K11 MUSEA benefited from the New Year holiday with over 40 percent sales growth year-on-year. Footfall rose nearly 50 percent year-on-year, with tourists topping the highest single purchase at HK$1 million. International luxury brands and watch and jewelry brands recorded the strongest performance, up over 40 percent and 80 percent year-on-year, respectively. The company said it will collaborate with payment platforms to offer Chinese New Year promotions for customers.
