27/11/2017-6

K11 Mall rents rose 10%

With the improvement of the retail market, the New World’s Tsim Sha Tsui K11 Shopping Center currently occupies 100% of the rental space. Rental income soars 10% year-on-year. It is expected that the rent increase will be about 10% next year. Hu Yujun, executive director of Tsim Sha Tsui Shopping Center K11, said that sales in the past three months recorded a 15% increase. Jewelery, watches, restaurants and fashion shops were the most prominent ones, with an increase of over 20%. Christmas and the arts are expected to be promoted on the theme of culture and the arts. This will lead to a double-digit increase. The flow of people will increase by about 10% year-on-year. It is expected that the retail market will continue to prosper next year. She also pointed out that the mall plans to promote the theme of interaction and gaming, and the main customer base is the strong spending power and young generation 80 to 90.