apm Lantern business is expected to rise 15%

In order to meet the business opportunities brought by the Chinese Valentine’s Day (Lantern Festival), a total of $ 2.3 million was spent on advertising at the apm mall in Kwun Tong, part of the New Land (00016) as a weekend promotion fee for the Lantern Festival, an increase of about 10% over the same period of last year. Feng Xiuyan, an executive director of Sun Hung Kai Properties (China), expects the store flow to reach 1 million, up 15% to 20% yoy; and turnover of 28 million yuan, up about 15% over the year.

She predicts that in the first quarter, the apm mall will have a population of 29 million people, up 12% to 15% year-on-year; its business volume will be from 1 billion to 1.2 billion yuan, up 10% to 15% on a year-on-year basis.