16/8/2017-2

Retail floor up to 60 million feet

The official website of the Kai Tak Sports Park shows that about 400,000 square feet of floor space will be used for retail and catering facilities, comparable to Raffles (1212), which is expected to Kai Tak SOGO put into operation in 2022. There are foreign analysts estimate that the retail part of the sports park will focus on the mass market for the sports brand retailers, located for the department store’s Kai Tak SOGO, inevitably there is a certain overlap and competition, but the park sports facilities can also be attracted New flow, believe that the project on the two projects are mutually beneficial.

SOGO sports department sells or is diluted

In the current Kai Tak plan, two can be used for retail commercial use of the land, respectively, by the Lifestyle International and Nan Fung Group, which, Lifestyle management in the interim performance conference has made it clear that the cast The development of the 18-storey Twin Towers, one of which will be Sogo Department Store, about 90% of the entire project will be used for retail use, that is, about 96 million square feet; South Fung is planning to grant more than half of the floor area As an office building, and joined the hotel and shopping malls elements, the land gross floor area of ​​191 million square feet.

Nanfeng cast land price of up to 12,000 yuan per square foot, earlier analysis means that the retail part of the retail will introduce high-level luxury retailers to offset the higher rental costs, I believe it is difficult to compete with the sports park shopping malls. However, the Q & A SOGO, an analyst said: “Kai Tak SOGO Sports Department sales, or will be part of the dilution of the sports park retail, but the former positioning for the more advanced Japanese department store, retail portfolio should be more diversified, Not in favor of SOGO. “In addition, due to the large size of the sports park, the user is not limited to residents of Kai Tak or East Kowloon, but the people of Hong Kong, or even come to Hong Kong to watch the event visitors , “There is a constant flow of new people like a transit duty-free shop.” I believe that the two shopping malls projects are more than disadvantages.