apm first quarter business is expected to rise 12%

Xinxiang (China) Managing Director Feng Xiuyan said he expects strong growth in retail sales this year. The first-quarter business of the apm mall at Sun Hung Kai (00016) is expected to rise 12% in the first quarter of this year, with a flow of 12% to 15% more. She pointed out that the mall had a total turnover of 4.2 billion yuan last year and a population of 110 million, both up 10%. This year, the mall has a total of 30 new and renewed tenants with a total floor area of 100,000 sq ft. The current leased space is about 150 to 450 RMB per sq ft and the rental can maintain steady growth. This year, the publicity fee for the apm mall in the Lunar New Year is as high as 16 million yuan, an increase of 10%. It is expected that the flow of pedestrians will increase to 29 million in the first quarter from 12% to 15%.