https://www-scmp-com.libproxy1.nus.edu.sg/rss/65620/feed 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. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Peggy Ye Peggy Ye Hong Kong shopping mall operators are extending a strategy used during this year’s Fifa World Cup into the Asian Games, leveraging major sporting events to draw visitors and support tenant sales as retailers face competition from Shenzhen, overseas shopping and online spending. Sino Group is among the landlords expanding the strategy beyond tournament broadcasts. It has projected foot traffic across its four malls to increase during its Asian Games campaign, with selected merchants forecast to... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3367822/hong-kong-malls-bet-asian-games-boost-footfall-tenant-sales-amid-spending-shifts?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3367822/hong-kong-malls-bet-asian-games-boost-footfall-tenant-sales-amid-spending-shifts?utm_source=rss_feed Thu, 17 Sep 2026 23:00:08 +0000 Chris Tsang Chris Tsang Commercial property prices in Hong Kong are likely to continue their downward spiral, as the market risks getting trapped in a “vicious cycle” of tighter bank lending and weakening demand, a property agency has warned. Banks in the city had adopted a more conservative approach towards approving mortgages for commercial properties over the past three years, introducing stricter approval standards and terms, said Eric Tso Tak-ming, chief vice-president at mReferral Mortgage Brokerage Services, at... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367633/hong-kong-commercial-property-downturn-worsen-amid-tightening-credit-agents?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3367633/hong-kong-commercial-property-downturn-worsen-amid-tightening-credit-agents?utm_source=rss_feed Tue, 15 Sep 2026 23:00:15 +0000 Chris Tsang Chris Tsang The outlook for shopping centres in Hong Kong is improving, and the business will thrive if operators use new stores and attractive events to counter locals’ fondness for cross-border shopping trips, according to the CEO of Hang Lung Properties. The company’s malls recorded growth in July, and business would be “even better” in the fourth quarter owing to a full pipeline of new shops preparing to open, said Weber Lo Wai-pak on the sidelines of an event on Monday. “Hong Kong shopping malls need... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3367469/hong-kong-malls-see-gradual-recovery-new-stores-and-events-hang-lung-ceo?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3367469/hong-kong-malls-see-gradual-recovery-new-stores-and-events-hang-lung-ceo?utm_source=rss_feed Mon, 14 Sep 2026 11:00:14 +0000 Chris Tsang Chris Tsang They were the “shop kings” of Hong Kong, owning dozens of properties in the same district and even the same street. But over the past few years many of these landlords have gone bankrupt, hit by the collapse in post-pandemic rents and tighter bank lending. Shop prices in the city have fallen more than 40 per cent from their 2018 peak, but they may not have hit rock bottom yet, according to Centaline Commercial. “There does not appear to be any clear sign of a turnaround today, nor any glimmer of... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3367224/rise-and-fall-hong-kongs-shop-kings-how-plunging-rents-debt-crushed-their-empires?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3367224/rise-and-fall-hong-kongs-shop-kings-how-plunging-rents-debt-crushed-their-empires?utm_source=rss_feed Sun, 13 Sep 2026 08:00:09 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s bid to become a global education hub is likely to transform the sector as a sustainable source of property demand, with the city tipped to see around 200,000 non-local students by 2035, according to CBRE. The city’s international schools are estimated to require enormous additional real estate to accommodate nearly 30,000 to 40,000 non-local students, as the institutions would need to set up 40 to 50 new school campuses. This could mean up to an extra 1.11 million square metres (12... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366576/foreign-mainland-students-flock-hong-kong-sparking-property-demand-education-sector?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366576/foreign-mainland-students-flock-hong-kong-sparking-property-demand-education-sector?utm_source=rss_feed Tue, 08 Sep 2026 00:00:12 +0000 Peggy Ye Peggy Ye Hong Kong landlords and property industry figures are accusing banks of deepening the city’s shop slump by pulling back from commercial mortgages, leaving more potential buyers unable to secure financing even though property values have fallen sharply. Shop buyers were increasingly being turned away, even though Hong Kong’s residential market had gained momentum this year and banks were competing for mortgage borrowers, they said. Shih Wing-ching, founder of Centaline Property, said banks tended... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366652/hong-kong-landlords-accuse-banks-deepening-shop-slump-reluctance-lend?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366652/hong-kong-landlords-accuse-banks-deepening-shop-slump-reluctance-lend?utm_source=rss_feed Mon, 07 Sep 2026 11:00:09 +0000 Lam Ka-sing Lam Ka-sing American ice cream chain Dairy Queen will open four Hong Kong outlets in the fourth quarter of this year, as part of an ambitious expansion plan amid a wave of food and retail shop closures across the city. Dairy Queen, an 85-year-old brand, said on Friday that it would launch its flagship store at One Causeway Bay shopping centre on Hong Kong Island in November, followed by three other outlets in Kowloon, the New Territories and the outlying islands before the end of the year. “Following... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3366423/dairy-queen-make-hong-kong-comeback-4-stores-it-scooping-cheap-rents?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3366423/dairy-queen-make-hong-kong-comeback-4-stores-it-scooping-cheap-rents?utm_source=rss_feed Fri, 04 Sep 2026 11:30:40 +0000 Chris Tsang Chris Tsang A foreclosure sale in Hong Kong’s Lan Kwai Fong area and a cancelled shop transaction in North Point reflect the impact of weak consumer spending on Hong Kong’s retail property market, which will remain under pressure through the end of the year, according to analysts. The Lan Kwai Fong property, home of well-known bar Insomnia until it closed in 2024, recently changed hands for 60 per cent less than its value in a 2015 sale. Meanwhile, the deal for the large street shop on King’s Road in North... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366330/bargain-sale-collapsed-deal-reflect-hong-kongs-struggling-retail-property-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366330/bargain-sale-collapsed-deal-reflect-hong-kongs-struggling-retail-property-market?utm_source=rss_feed Fri, 04 Sep 2026 10:00:11 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s food and beverage (F&B) operators, both new and existing players, signed leases for 155,000 sq ft of new floor space in the second quarter of this year, a record high for the sector and more than double the amount registered in the first quarter, according to property consultancy CBRE. In the first half of the year, they snapped up 230,000 sq ft of new space, CBRE data showed. However, analysts said the city’s selective and narrow-based retailing recovery was forcing brands and... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366205/hordes-head-shenzhen-hong-kong-bars-restaurants-sign-more-floor-space?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366205/hordes-head-shenzhen-hong-kong-bars-restaurants-sign-more-floor-space?utm_source=rss_feed Thu, 03 Sep 2026 10:00:12 +0000 Peggy Ye Peggy Ye Sino Land’s annual profit rose 14 per cent as losses on its investment properties narrowed, although a decline in underlying earnings pointed to continued pressure on its core business. Net profit attributable to shareholders rose to HK$4.59 billion (US$585 million) in the year ended June 30, from HK$4.02 billion a year earlier, the Hong Kong developer said on Tuesday. Losses from the revaluation of investment properties narrowed to HK$192 million from HK$1.08 billion. Strip out those valuation... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366010/sino-land-profit-rises-14-property-losses-narrow-core-earnings-fall?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366010/sino-land-profit-rises-14-property-losses-narrow-core-earnings-fall?utm_source=rss_feed Tue, 01 Sep 2026 12:00:24 +0000 Cheryl Arcibal Cheryl Arcibal From big banks to fashion brands, tenants are taking advantage of potential lower rents for retail space in Hong Kong’s prime areas as they utilise eye-catching locations to boost visibility towards customers, according to agents. HSBC is unveiling its first flagship branch at the Capitol Centre, which was previously occupied by fashion retailers such as Chanel, Victoria’s Secret and Forever 21, as the bank prepares to close two branches in one of the city’s top shopping areas, Causeway Bay. The... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365813/hot-property-big-banks-fashion-stores-seek-cheaper-eye-catching-hong-kong-retail?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365813/hot-property-big-banks-fashion-stores-seek-cheaper-eye-catching-hong-kong-retail?utm_source=rss_feed Mon, 31 Aug 2026 09:00:10 +0000 Cheryl Arcibal Cheryl Arcibal Financial distress in Hong Kong’s commercial property market has moderated but not been completely eliminated, analysts say, with highly leveraged asset owners still expected to find refinancing their loans a challenge. The city’s office and retail property segments have been mired in a multi-year slump, with new supply outstripping demand in recent years as consumption slowed and interest rates surged, triggering loan defaults. “We do not expect defaults will increase noticeably from this time... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365681/will-hong-kong-see-fewer-creditor-led-commercial-property-sales-assets-stabilise?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365681/will-hong-kong-see-fewer-creditor-led-commercial-property-sales-assets-stabilise?utm_source=rss_feed Sun, 30 Aug 2026 06:00:11 +0000 Peggy Ye Peggy Ye JD.com’s rapid expansion in Hong Kong could challenge the property model that has long made the city’s busiest streets and shopping centres its most valuable, analysts say. The Chinese e-commerce giant has invested more than HK$10 billion (US$1.3 billion) in Hong Kong property over the past two years, building a network of stores, warehouses and other assets that analysts said could reduce the importance of footfall for some retailers while increasing the value of logistics hubs and other... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365657/jdcoms-us13b-expansion-could-test-hong-kongs-footfall-driven-retail-property-model?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3365657/jdcoms-us13b-expansion-could-test-hong-kongs-footfall-driven-retail-property-model?utm_source=rss_feed Sun, 30 Aug 2026 02:00:16 +0000 Zhu Wenqian Zhu Wenqian Amid widespread store closures by foreign fast-fashion players in China, US apparel brand Gap is defying industry headwinds. It plans to open 50 new stores in mainland China this year and return to Hong Kong by year’s end, following a localisation overhaul that has attracted more Chinese consumers. This expansion comes at a time when the world’s second-largest consumer market faces sluggish overall retail sales, with brands such as Zara and H&M scaling back their number of stores. With Gap... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3363647/gap-bucks-retail-headwinds-massive-china-expansion-amid-localisation-drive?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3363647/gap-bucks-retail-headwinds-massive-china-expansion-amid-localisation-drive?utm_source=rss_feed Tue, 11 Aug 2026 09:00:14 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s commercial property investment more than doubled to US$3.1 billion in the second quarter, making it the fastest growing investment market in Asia-Pacific thanks to a strong increase in retail and office deals and a low base effect, according to JLL. The 129 per cent growth from a year earlier beat other top-performing markets including Singapore with 108 per cent growth and Australia with an 82 per cent increase, data tracked by the property consultancy showed. “Hong Kong’s robust... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3363562/hong-kongs-commercial-property-investment-growth-beats-peer-asia-pacific-markets?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3363562/hong-kongs-commercial-property-investment-growth-beats-peer-asia-pacific-markets?utm_source=rss_feed Mon, 10 Aug 2026 23:00:06 +0000 Peggy Ye Peggy Ye One year after McDonald’s began selling its self-owned Hong Kong shops, the fast-food giant has found buyers for nearly half its portfolio even as the city’s retail property market endures its weakest spell in decades. McDonald’s planned to dispose of all 23 shops in phases, market sources said, with the portfolio initially valued at about HK$3 billion (US$382 million). Since launching the disposal plan with JLL in July last year, the chain had sold 11 properties for more than HK$900 million –... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363332/what-makes-mcdonalds-assets-stand-out-amid-weak-hong-kong-retail-property-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3363332/what-makes-mcdonalds-assets-stand-out-amid-weak-hong-kong-retail-property-market?utm_source=rss_feed Mon, 10 Aug 2026 00:00:25 +0000 Zhu Wenqian Zhu Wenqian Hong Kong developer Hang Lung Properties has tapped Leo Tsoi Tak-lun, CEO of Toys ‘R’ Us Asia and former head of Starbucks China, as its new CEO and executive director. Tsoi will join Hang Lung Group and Hang Lung Properties on September 7 as CEO-designate and executive director ahead of formally assuming the CEO role on October 1. He succeeds Weber Lo Wai-pak, who retires on August 31 after serving as CEO for eight years, the developer said in a statement on Friday. Tsoi’s appointment marks... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3363316/hong-kongs-hang-lung-properties-names-former-starbucks-china-head-leo-tsoi-new-ceo?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3363316/hong-kongs-hang-lung-properties-names-former-starbucks-china-head-leo-tsoi-new-ceo?utm_source=rss_feed Fri, 07 Aug 2026 10:01:38 +0000 Peggy Ye Peggy Ye Hong Kong’s commercial property recovery is increasingly becoming a story of location, with the fortunes of the city’s biggest landlords diverging depending on the districts where they own office space. Swire Properties’ first-half results on Thursday captured that shift. The developer owns office towers in both Admiralty, next to Central’s financial district, and Quarry Bay, an eastern business hub that has long attracted tenants seeking spaces with lower rents than those in pricier areas like... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3363184/swire-earnings-show-hong-kongs-prime-commercial-districts-outpacing-others-recovery?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3363184/swire-earnings-show-hong-kongs-prime-commercial-districts-outpacing-others-recovery?utm_source=rss_feed Thu, 06 Aug 2026 10:30:10 +0000 Peggy Ye Peggy Ye Hong Kong developer Hang Lung Properties’ underlying profit fell in the first half as losses from property sales, higher finance costs and a weak mainland China office market offset record rental income from its shopping malls. Underlying net profit declined 10 per cent from a year earlier to HK$1.44 billion (US$184 million) in the six months ended June 30, while revenue rose 23 per cent to HK$6.11 billion, driven by the handover of residential units at Hong Kong projects including The Aperture... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3362576/hang-lung-profit-falls-property-losses-and-weak-offices-offset-record-mall-rents?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3362576/hang-lung-profit-falls-property-losses-and-weak-offices-offset-record-mall-rents?utm_source=rss_feed Fri, 31 Jul 2026 11:29:43 +0000 Peggy Ye Peggy Ye Hongkong Land will acquire Singapore’s Wheelock Place for about S$1.1 billion (US$900 million) through its Singapore Central Private Real Estate Fund (SCPREF), marking the fund’s first acquisition since its launch in February. The mixed-use commercial property on Orchard Road is being acquired from an entity owned by Hong Kong-listed Wharf Real Estate Investment Company, according to a statement released by Hongkong Land on Thursday. The transaction is expected to conclude by the end of... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362425/hongkong-land-acquires-singapores-wheelock-place-us900m-deal?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362425/hongkong-land-acquires-singapores-wheelock-place-us900m-deal?utm_source=rss_feed Thu, 30 Jul 2026 12:46:20 +0000 Zhu Wenqian Zhu Wenqian Ikea’s parent company Ingka Group has hired property consultancy JLL as its sole sales agent to offload eight retail properties in mainland China, the multinational furniture brand’s largest asset disposal since it entered the market nearly 30 years ago. Seven of the properties were Ikea stores that ceased their operations in February. The remaining one, a site in Guiyang in the southern province of Guizhou, shut down in 2022 and has been vacant ever since, according to disclosure from JLL last... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3361167/ikeas-china-remodelling-parent-firm-puts-eight-former-retail-sites-block?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3361167/ikeas-china-remodelling-parent-firm-puts-eight-former-retail-sites-block?utm_source=rss_feed Mon, 20 Jul 2026 06:00:12 +0000 Chris Tsang Chris Tsang Although retail sales in Hong Kong rose more than 10 per cent year on year in the first five months of 2026, a wave of shop closures continues, leaving tenants and landlords with vastly different assessments of the retail leasing market. Many tenants say that despite racking their brains for solutions, their businesses remain stagnant. They are losing money because of constant price cutting to attract customers, a situation they attribute to the broader economic climate. Many hope for rent... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3360784/retail-rift-hong-kong-shops-plead-rent-relief-landlords-see-improving-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3360784/retail-rift-hong-kong-shops-plead-rent-relief-landlords-see-improving-market?utm_source=rss_feed Fri, 17 Jul 2026 00:00:06 +0000 Peggy Ye Peggy Ye The PapaHome furniture showroom – the product of a partnership between local home repair platform Papabo and Taobao Hong Kong – will close its doors at a Tsim Sha Tsui mall when its lease expires in October, according to multiple people familiar with the matter. The move means Taobao Hong Kong and Papabo will give up their first physical shop at a prime spot in Kowloon. PapaHome said in a statement on Thursday that it would “relocate” its Tsim Sha Tsui flagship store to Fashion Walk in Causeway... https://www-scmp-com.libproxy1.nus.edu.sg/property/article/3360695/taobaos-first-physical-shop-hong-kong-close-after-lease-ends-october-sources?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/property/article/3360695/taobaos-first-physical-shop-hong-kong-close-after-lease-ends-october-sources?utm_source=rss_feed Thu, 16 Jul 2026 00:00:16 +0000 SCMP Editorial SCMP Editorial Classrooms in prime office buildings may look like an odd fit. But Hong Kong’s economic situation makes the arrangement not only practical but mutually beneficial. Given that office and retail vacancies remain relatively high, and universities struggle to secure enough teaching space amid a boom in non-local enrolment, converting commercial premises into off-campus teaching facilities offers a rare alignment of interests and a win-win for both sectors. At least six universities in Hong Kong have... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3360096/universities-buying-prime-hong-kong-property-win-both-sectors?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3360096/universities-buying-prime-hong-kong-property-win-both-sectors?utm_source=rss_feed Sun, 12 Jul 2026 23:15:14 +0000 Chris Tsang Chris Tsang Hong Kong’s retail leasing market remained under pressure with rental rates far below the pre-pandemic levels, while Beijing’s crackdown on capital flight and a potential rate hike in the second half of the year by the US Federal Reserve would add to sector uncertainties, according to analysts. The food and beverage sector has seen numerous closures of both casual eateries and high-end restaurants in recent months. Fast-food chain Maxim’s MX scaled back operations and closed its South Horizons... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3359843/when-will-hong-kongs-retail-leasing-market-see-turnaround?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3359843/when-will-hong-kongs-retail-leasing-market-see-turnaround?utm_source=rss_feed Wed, 08 Jul 2026 23:30:05 +0000 Peggy Ye Peggy Ye Chinese sportswear maker Xtep International has opened Saucony’s first standalone store in Hong Kong, signalling the premium running brand will expand further, with the city positioned as a showcase market while the group’s core label is reserved for broader overseas growth. The outlet at K11 Art Mall in Tsim Sha Tsui is Saucony’s first directly operated store in Hong Kong after Xtep took full control of the brand’s business in mainland China, Hong Kong and Macau through a buyout of its joint... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3358512/big-stride-xtep-opens-first-saucony-store-hong-kong-eyes-more-prime-retail-sites?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3358512/big-stride-xtep-opens-first-saucony-store-hong-kong-eyes-more-prime-retail-sites?utm_source=rss_feed Fri, 26 Jun 2026 10:03:04 +0000 Peggy Ye Peggy Ye Mainland Chinese students are increasingly paying a year’s rent – and sometimes much more – upfront to secure homes near Hong Kong’s universities, helping to push residential rents to record highs and drawing investors back to small flats once marketed for first-time buyers. The trend is becoming increasingly visible as the city’s summer student-leasing season gets under way. A mainland Chinese PhD student recently agreed to pay nearly HK$700,000 (US$89,332) upfront to rent a two-bedroom flat at... https://www-scmp-com.libproxy1.nus.edu.sg/property/article/3357061/demand-mainland-chinese-students-lifts-hong-kong-rents-draws-investors-flats?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/property/article/3357061/demand-mainland-chinese-students-lifts-hong-kong-rents-draws-investors-flats?utm_source=rss_feed Sun, 14 Jun 2026 11:00:07 +0000 Zhu Wenqian Zhu Wenqian Property developers are focusing on building shopping centres featuring lush greenery, gardens and water features in mainland China, as such spaces have become more attractive to shoppers and retailers than conventional high-density malls. “Consumers increasingly view retail destinations as places to spend time rather than simply places to buy products. This reflects the continued growth of online retail as well as changing lifestyle preferences,” said James Macdonald, head of research for China... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3356214/park-life-why-chinas-malls-are-building-forests-waterfalls-and-sky-walkways?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3356214/park-life-why-chinas-malls-are-building-forests-waterfalls-and-sky-walkways?utm_source=rss_feed Sun, 07 Jun 2026 02:30:13 +0000 Ken Ip Ken Ip Few things age faster than a business plan built for a world that no longer exists. That may be the most important lesson from the saga of 11 Skies, the vast retail, entertainment and commercial complex beside Hong Kong International Airport that now appears destined for a dramatic reset. Reports that the Airport Authority could take majority control of the project from its private developer have triggered debate over who should bear the cost and who made the wrong bets. The real story of 11... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3355715/real-story-11-skies-not-about-failed-shopping-centre?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3355715/real-story-11-skies-not-about-failed-shopping-centre?utm_source=rss_feed Fri, 05 Jun 2026 01:30:07 +0000 Daisy Wu Daisy Wu Food Republic, the Singaporean food court chain owned by BreadTalk Group, is set to close its last remaining outlet in Beijing on June 15, ending more than two decades in the Chinese capital, according to a notice outside the location in late May. Its closure comes amid a wave of store shutdowns among foreign and Hong Kong brands across mainland China. Many have struggled to adapt to the local market, hampered by outdated business models and fast-evolving consumer preferences. French department... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3355586/food-republic-joins-wave-foreign-brands-retreating-china?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3355586/food-republic-joins-wave-foreign-brands-retreating-china?utm_source=rss_feed Mon, 01 Jun 2026 23:00:06 +0000 Xinyi Wu Xinyi Wu Chinese provinces are scouring their balance sheets to revitalise idle state assets, seeking alternative revenue streams to counter intense debt pressures stemming from the prolonged property downturn. In jurisdictions such as Jilin, Sichuan and Chongqing, which are leading this fiscal drive, local authorities are doubling down on meeting aggressive regional targets to repair strained finances. Jilin’s governor, Hu Yuting, on Tuesday said the province aimed to anchor an annual target of 100... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3355034/property-hunters-china-regions-mine-ledgers-dormant-riches-idle-assets?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3355034/property-hunters-china-regions-mine-ledgers-dormant-riches-idle-assets?utm_source=rss_feed Wed, 27 May 2026 12:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong is likely to attract more mainland Chinese retail brands, but unlike the previous wave, non food and beverage (F&B) retailers are the ones ramping up their presence, according to analysts. The change in profile of mainland brands coming to Hong Kong is helping the city’s landlords fill vacant spaces amid an uneven recovery in the retail property market, according to JLL. In the first four months of the year, more than one fifth of new entrants in the city’s retail market were mainland... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3354612/mainland-brands-power-hong-kong-retail-recovery-fb-joined-fashion-and-beauty?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3354612/mainland-brands-power-hong-kong-retail-recovery-fb-joined-fashion-and-beauty?utm_source=rss_feed Sun, 24 May 2026 03:30:07 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s residential property market recovery is unlikely to be derailed by a potential increase in interest rates amid the Middle East conflict, as demand is supported by professionals relocating to the city and surging rents, according to Moody’s Ratings. At the same time, the moribund office and retail property sectors were showing signs of improvement on the back of leasing activity despite continued headwinds, the credit-rating agency said in a commentary released on Monday. “We expect... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3354005/hong-kong-property-upswing-poised-hold-despite-interest-rates-risk-moodys?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3354005/hong-kong-property-upswing-poised-hold-despite-interest-rates-risk-moodys?utm_source=rss_feed Mon, 18 May 2026 23:00:05 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s retail property market is gradually building momentum as spending and confidence of consumers and tourists return, according to analysts. Unlike the city’s past peak rental levels, however, this time the tenant mix was more diversified, with retailers offering unique experiences and products that enhanced their appeal to shoppers, they said. “We see structural shifts towards more experience-driven and diversified tenant mixes, rather than a full return to past peak rental levels,”... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353716/fresh-concepts-lift-hong-kong-retail-property-tourists-and-consumers-return?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353716/fresh-concepts-lift-hong-kong-retail-property-tourists-and-consumers-return?utm_source=rss_feed Sun, 17 May 2026 02:00:08 +0000 Denise Tsang,Oscar Liu Denise Tsang,Oscar Liu The authority managing Hong Kong International Airport has taken over the retail operations of 11 Skies from New World Development ahead of the opening of Terminal 2, the South China Morning Post has learned. Multiple sources said the Airport Authority had assumed control of key components of the 2.66 million sq ft retail and dining space, representing 70 per cent of the entire project. But it remains unclear whether the authority has also taken over the rest of 570,000 sq ft of experiential... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3353454/hong-kong-airport-authority-takes-over-11-skies-retail-new-world-sources?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3353454/hong-kong-airport-authority-takes-over-11-skies-retail-new-world-sources?utm_source=rss_feed Wed, 13 May 2026 11:46:24 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s Tsim Sha Tsui has retained its title as Asia’s priciest luxury retail strip, commanding €16,160 (US$18,980) per square metre in annual rents, as the city remains among the world’s most active markets in terms of new high-end store openings, according to Savills. London’s Bond Street replaced Tsim Sha Tsui as the top global luxury retail property market with rents of €19,228 per square metre per year, according to the ninth edition of the UK-based property consultancy’s Global Luxury... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353134/hong-kongs-tsim-sha-tsui-tops-asia-luxury-retail-rents-bond-street-worlds-priciest?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353134/hong-kongs-tsim-sha-tsui-tops-asia-luxury-retail-rents-bond-street-worlds-priciest?utm_source=rss_feed Mon, 11 May 2026 08:35:05 +0000 Peggy Ye Peggy Ye Strong student-rental demand, competitive pricing and improving transport links are drawing investors to new residential projects in To Kwa Wan, as developers seek to reposition the ageing Kowloon district as part of a broader redevelopment corridor linked to Kai Tak and Hung Hom. The renewed interest helped push Hong Kong’s weekend primary home transactions to around 500 units, the strongest level in 19 months, according to Midland Realty. Two of the four major project launches over the weekend... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353054/rental-yields-redevelopment-gains-drive-home-sales-hong-kongs-kwa-wan?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353054/rental-yields-redevelopment-gains-drive-home-sales-hong-kongs-kwa-wan?utm_source=rss_feed Sun, 10 May 2026 12:25:31 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s property market is poised for a broad-based recovery as a strong upturn in the residential segment spills over to the struggling office and retail sectors, according to analysts. Morgan Stanley upgraded its forecast for the city’s home prices to a 12 per cent increase this year from 10 per cent previously and anticipated another 5 per cent rise in 2027, it said in a report on Monday. Likewise, the office property segment was likely to see some relief, with Hong Kong’s top business... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3352357/hong-kong-residential-property-upturn-drives-recovery-office-retail-morgan-stanley?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3352357/hong-kong-residential-property-upturn-drives-recovery-office-retail-morgan-stanley?utm_source=rss_feed Mon, 04 May 2026 09:15:08 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong-headquartered Toys ‘R’ Us Asia has pivoted to an experience-focused format and smaller stores in the city following an expansion programme that sought to increase its outlets as it navigates the changing retail landscape. The group planned to close the year with 20 stores in Hong Kong, representing a 40 per cent rise from 2025, said Leo Tsoi, CEO of the toys and collectibles retailer. The strategy allows the group to be more nimble and adapt to the demographic shift, as toys and... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3350624/toys-r-us-game-changer-kidults-compact-shops-fuel-pivot-hong-kong-retail-evolves?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3350624/toys-r-us-game-changer-kidults-compact-shops-fuel-pivot-hong-kong-retail-evolves?utm_source=rss_feed Mon, 20 Apr 2026 00:30:13 +0000 Cheryl Arcibal Cheryl Arcibal Futu Securities is the latest non-food and beverage retailer to sell coffee and other drinks in one of its outlets in Hong Kong as the online stock brokerage adapts to its clients’ lifestyle, according to a spokesman. Futu Café was officially launched on Thursday at the Futu Store on Lee Garden Road, Causeway Bay, close to its flagship store on Russell Street. Cups of espresso, Americano and iced blue coconut water, among other drinks, are available between 7.30am and 7.30pm. The launch of the... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3350205/futu-securities-opens-coffee-shop-branch-it-adapts-changing-client-lifestyles?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3350205/futu-securities-opens-coffee-shop-branch-it-adapts-changing-client-lifestyles?utm_source=rss_feed Wed, 15 Apr 2026 23:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s New World Development (NWD) has shelved plans to acquire the remaining stakes in three commercial sites in Causeway Bay, signalling continued caution among developers despite signs of improving demand in the core office market. The company, which has been selling assets to reduce debt, said it would “exercise prudence as appropriate, having regard to cost and efficiency, as well as overall market supply and demand, with a view to delivering reasonable returns”. NWD, which reported... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3348834/new-world-pulls-back-causeway-bay-acquisition-amid-uneven-recovery?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3348834/new-world-pulls-back-causeway-bay-acquisition-amid-uneven-recovery?utm_source=rss_feed Thu, 02 Apr 2026 11:34:41 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s property transactions crossed 7,000 for the sixth consecutive month in March – the first time in four years that monthly volumes stayed above this level – despite a slight fall last month, according to official data. Residential transactions declined by about 5.3 per cent to 6,316 from a month earlier, while their month-on-month value decreased by 4.19 per cent to HK$55.18 billion (US$7.04 billion), according to data from the Land Registry on Thursday. New and lived-in home sales... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3348739/hong-kongs-property-deals-exceed-7000-6-straight-months-march?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3348739/hong-kongs-property-deals-exceed-7000-6-straight-months-march?utm_source=rss_feed Thu, 02 Apr 2026 03:24:36 +0000 Peggy Ye Peggy Ye Retailers and restaurant operators in Hong Kong are rethinking how they use space as rents fall and demand weakens by moving back to street-level shops and experimenting with short-term “pop-up” leases. Hong Kong Hing Kee Java Edible Bird’s Nest (HK JEBN), known locally as “Lau Soeng” – Cantonese for “upstairs” – built its business by avoiding expensive street-front rents and operating from higher floors. It is now doing the opposite. “After the pandemic, the retail market has been weak,” said... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3347466/upstairs-moves-downstairs-hong-kong-outlets-head-street-level-landlords-cut-rents?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3347466/upstairs-moves-downstairs-hong-kong-outlets-head-street-level-landlords-cut-rents?utm_source=rss_feed Sun, 22 Mar 2026 07:30:09 +0000 Peggy Ye Peggy Ye Hong Kong’s fragile retail recovery is clouding the outlook for shopping mall rents, with Wharf Real Estate Investment Company (REIC) warning that rising geopolitical tensions could add further uncertainty even as visitor traffic improves. The landlord of Harbour City in Tsim Sha Tsui and Times Square in Causeway Bay said the retail market showed gradual improvement in 2025 as tourism picked up. “Volume increase, however, was not often accompanied by commensurate yield increase,” the company... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3346098/middle-east-tensions-add-uncertainty-hong-kong-retail-rents-wharf-reic-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3346098/middle-east-tensions-add-uncertainty-hong-kong-retail-rents-wharf-reic-says?utm_source=rss_feed Tue, 10 Mar 2026 10:05:40 +0000 Peggy Ye Peggy Ye A Singapore-rooted property family has put a rare residential estate in Hong Kong’s Southern district up for tender at about HK$300 million (US$38.4 million), testing demand for trophy homes as the city’s luxury housing market shows early signs of recovery despite soft prices. The tender for Belvedere, a low-density compound in Chung Hom Kok, would close at noon on April 28, according to marketing agent JLL. The property had been held by Remadour Estate since 1993, Land Registry records... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3346004/singapore-property-clan-puts-rare-hong-kong-estate-us384-million-tender?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3346004/singapore-property-clan-puts-rare-hong-kong-estate-us384-million-tender?utm_source=rss_feed Tue, 10 Mar 2026 00:30:08 +0000 Zhu Wenqian Zhu Wenqian For Steven Zhou, a 40-year-old Beijing office worker, suburban outlet stores offer a better shopping experience than urban malls, allowing him to escape the city, park his car without frustration and, most importantly, find good deals. “Outlets offer a wide selection of brands, with attractive discounts, especially on sportswear,” Zhou said. Across the mainland, outlets are expanding while traditional and luxury malls face high vacancy rates. Offering well-known brands at discounted prices,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3345736/chinas-shoppers-head-suburban-outlets-bright-spot-retail-property?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3345736/chinas-shoppers-head-suburban-outlets-bright-spot-retail-property?utm_source=rss_feed Sun, 08 Mar 2026 00:30:08 +0000 Peggy Ye Peggy Ye McDonald’s has sold another Hong Kong retail property for HK$93.5 million (US$11.9 million), extending its asset sell-down and bringing total proceeds to about HK$580 million. The ground-floor unit at Mount Sterling Mall in Mei Foo Sun Chuen, Lai Chi Kok, was sold on February 27 to Huge Power (China) Ltd., according to Land Registry records. Companies Registry filings show the directors as Kwok Chong-wah, Kwok Lap-yin and Kwok Shun-sing, members of a veteran investor family. The 6,915 square... https://www-scmp-com.libproxy1.nus.edu.sg/property/article/3345368/mcdonalds-sells-hong-kong-shop-outside-disposal-plan-us119-million?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/property/article/3345368/mcdonalds-sells-hong-kong-shop-outside-disposal-plan-us119-million?utm_source=rss_feed Wed, 04 Mar 2026 06:28:54 +0000 Nicholas Spiro Nicholas Spiro A decade ago, some investors believed the United States’ retail industry was going the way of the subprime mortgage market, whose collapse triggered the 2008 global financial crisis. The combination of the overbuilding of shopping centres and the dramatic rise of online shopping plunged bricks-and-mortar stores into crisis. Fears of a “retail apocalypse” were rife. The double whammy of overcapacity and the “Amazon effect” also hit the United Kingdom’s retail sector hard, with prominent stores... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3345094/unique-resilience-australias-retail-property-deserves-attention?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3345094/unique-resilience-australias-retail-property-deserves-attention?utm_source=rss_feed Mon, 02 Mar 2026 06:30:08 +0000 Peggy Ye Peggy Ye Edwin Leong Siu-hung, chairman of Tai Hung Fai Enterprise Group and long dubbed Hong Kong’s “king of shops”, has sold a flat in the ultra-exclusive Mount Nicholson enclave on The Peak, saying weak rental returns did not make it worthwhile to hold the property any longer. Land Registry records showed Leong sold the 4,566 sq ft four-bedroom flat for HK$323 million (US$41.3 million), or about HK$70,740 per square foot. He bought the property in 2016 for about HK$312 million. While the selling price... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3344861/hong-kongs-king-shops-edwin-leong-sells-home-peak-us413-million?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3344861/hong-kongs-king-shops-edwin-leong-sells-home-peak-us413-million?utm_source=rss_feed Fri, 27 Feb 2026 08:28:24 +0000 Cheryl Arcibal Cheryl Arcibal Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, reported a 36.2 per cent year-on-year jump in first-half net profit to HK$10.25 billion (US$1.3 billion). Revenue rose 32 per cent to HK$52.7 billion for the six months ended December from a year earlier, while operating income increased 10.7 per cent to HK$13.4 billion, the developer said in a filing to the Hong Kong stock exchange on Thursday. Underlying profit, which discounts property revaluations, gained... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed Thu, 26 Feb 2026 10:23:04 +0000