Keihui Kaiye Sports Ground or continued rent increase
In 2017, Kehui Capital purchased 23 shopping malls under the exhibition of 23 billion yuan. Among them, Kaiye Village in Kowloon Bay was used as a pilot to spend more than one million yuan to renovate one of the stadiums. At present, the stadium has been completed for several months. The monthly usage of people has risen by more than 50%, and the number of people has reached 6,000. The management team “Minfang" pointed out that it is necessary to use the stadium to drive the flow of people in the estate. The business of the mall will not continue to increase rents in the future.
Monthly use of people increased by more than 50%
Huang Yiqian, director of public affairs and marketing at Kehui Capital Minfang, said that Kaiye Shopping Mall was completed in 1981. The sports ground on the parking lot has not been fully utilized for many years. Therefore, the group wants to renovate the sports field to become a hot spot and drive the flow of people throughout the village. , thereby increasing the amount of business in the mall.
At present, the stadium covers an area of about 20,000 square meters. It is designed to incorporate Hong Kong elements such as neon lights and “HK" characters. It involves basketball courts, badminton courts, children’s play spaces and other facilities, and is the first to win the 2019 Urban Land Institute ULI Asia Pacific. The District Excellence Awards course. Huang Yiqian pointed out that it takes about seven months from project conception to completion. Since the completion of the project, the monthly usage has increased by more than 50% and the number of people has reached 6,000.
Regarding the future rent increase, Mr Wong said that the Group would not set a higher rent for the tenants across the board. It would adjust the business volume of each store and the functions of the community one by one, but did not disclose the actual extent. He stressed that if the tenant’s business volume increases, but requires frozen rent and rent reduction, this idea is not in line with economic logic. For the future development, Huang said that it will continue to renovate its malls purchased from the Expo and will try to cover the sports elements.
Market owners, the government bought the shop
In addition, the Government has proposed to use $20 billion in public funds to purchase private properties for social welfare facilities in three years. A small group of owners of the famous Tsuen Wan Tsuen Wan Square, together with nearly 70% of the owners, signed a “purchasing draft". I hope that the government will use the public funds to buy the shop and help the owners stop the eclipse.