Xinhe expects that the rent of shopping malls will rise at least 8% next year.
Sino Group (083) released its development strategy for its shopping malls in 2019. In order to attract more market visitors, the Group will officially launch the “S Rewards" mobile APP reward program in the first quarter of next year. 3 shopping malls, including Tuen Mun Town Plaza, Olympian City and Fuxin World. Liang Cuishan, general manager of the marketing and promotion department of the letter and rental department, said that the customer’s electronic bill can be stored in S Rewards and exchanged for various gifts and free parking.
In addition, Bi Jiahao, general manager of the letter and rental department, said that sales of the malls increased in 2018, with outstanding performance in catering, cosmetics and sporting goods. Looking forward to 2019, he expects the overall shopping mall’s turnover will increase by 10%, and it is expected that the rent increase of merchants will reach 8% to 14% next year. As regards the opening of the Hong Kong section of the High Speed Rail and the Hong Kong-Zhuhai-Macao Bridge, he said that the increase in the flow of people brought about by the opening of the high-speed railway is more obvious, mainly due to the increase in the Olympian City and the China-Hong Kong City. He is also optimistic about the long-term benefits of the two infrastructure projects.
China Merchants Land Development and Light Assets Business
China Merchants Land (978) announced yesterday that it has signed a revised non-competition deed with the controlling shareholder China Merchants Shekou to allow the China Merchants Land to exclude geographical restrictions and focus on Guangzhou, Foshan, Nanjing and Jurong to promote the expansion of “light assets”. Yu Zhiliang, executive director and general manager of China Merchants Land, said that the company’s light asset management business will focus on the development of offices and serviced apartments, including the expansion of our serviced apartment platform, which may seek long-term fund cooperation investment. According to the newly revised non-competition deed, China Merchants Land can participate in all real estate investment projects in China with a shareholding of no more than 30%.