The local retail market has not improved and Wuhan pneumonia is raging. shopping malls in China and Hong Kong, believes that Hong Kong is facing internal and external problems
“Others are eating your cake, and they will drive away those who send the cake.” I believe it is difficult for Hong Kong retail to return. A period of high growth over the past few years.
Faced with fewer tourists and weak local consumption, many mall owners such as Hang Lung offer rental discounts to tenants. Chief Executive Officer Lu Weibo said that in the second half of last year, he proactively contacted tenants to reduce rents, which involved 70% of tenants, and the industry is quite extensive. The extent of rent reduction depends on the tenants’ operating environment and location.
Lu Weibo did not respond to the lease renewal situation of the merchants, only saying that the annual lease renewal ratio is similar. The Group will closely monitor the local retail market in the future and communicate closely with the tenants. The Group will also provide more promotional activities. Tenants bring more business.
Group retail sales in Hong Kong fell 17% in the second half of last year
Hang Lung ’s retail sales in Hong Kong fell by 4% last year, with a drop of 17% in the second half of the year. The Causeway Bay retail portfolio suffered the most. The retail sales of the whole year fell by 10%, and the retail sales of Mong Kok Yalan Centre and Jialefang fell by 1% . Lu Weibo emphasized that currently there is no intention to adjust the tenant mix. Although there are many cosmetic tenants in Causeway Bay, “at this stage, it is not necessary to change the strategy for the people’s livelihood”, but to actively do better with more different methods. Chen Qizong pointed out that the mainland government has been actively closing the price gap between China and Hong Kong in recent years. Many luxury goods sold in the Mainland are even cheaper than Hong Kong. More importantly, “I used to come to Hong Kong for shopping, but now I have obstacles and I dare not come. “So Hong Kong’s retail market is difficult.
He also revealed that a group of mainland friends in the high-tech industry came to Hong Kong to attend the seminar two weeks ago. Their secretary originally arranged for dinner at a restaurant about 200 meters away from the hotel. However, when the secretary walked to the restaurant early, he was threatened by men in black on the way, making them afraid to walk to the restaurant to eat. The above incident shows that even if he is not afraid to come to Hong Kong, his colleagues’ safety must be taken into consideration, so he personally estimates that it will take a long time for Hong Kong retail to resume.
Refers to Hong Kong as a society ruled by law
“Hong Kong people have changed from businessmen who used to know how to do business to black men who would intimidate or even beat people.” Chen Qizong said that Hong Kong is a society ruled by law and should not condone mobs. Promotion in the Mainland does not guarantee that tourists will not be intimidated when they come to Hong Kong. Therefore, Hong Kong people should not shift the responsibility to the government because the government is not everything.
In terms of property sales, Chen Wenbo, executive director, said that the Group has always been aware of Hong Kong’s land investment opportunities, and recently found that investment opportunities have increased. In addition to land purchases, the Group also has two redevelopment projects in Hong Kong.