Letter and expected consumer market this year, an increase of about 10%

Chen Qinling, general manager of Xinhe Group’s rental office, predicted that Tuen Mun Town Plaza had a total turnover of over 9.6 billion yuan and a passenger flow of 128 million, both up 10%. Looking forward to this year, I believe the consumer market will continue to grow this year, an increase of about 8% to 10%.

Mr Chan also pointed out that as for tenants, about 250,000 square feet of shopping center leases expired this Tuen Mun Town Plaza this year. 75% of them have renewed their tenancies and another 20% will turn to new tenants. Renewal rent increases to single-digit double-digit.