MOKO’s business volume is expected to increase in the second half of the year
Hong Kong’s retail market has slowed down. Li Dexing, assistant general manager of Xindi Agency’s rental department (rental), pointed out that the turnover of MONGO New Century Plaza in Mong Kok, Xindi (00016), recorded a single-digit increase in the first five months of this year, better than the overall Negative growth in the retail market. With the clear trade relationship between China and the United States and the overall good economy, Li Dexing is cautiously optimistic about the market outlook. It is expected that the business volume will increase in the second half of the year.
occupancy rate is over 98%
Li Dexing said that the current occupancy rate of shopping malls is 96%, of which 30% are new tenants and tenants. The new lease rent rose by an average of 10% to the rent of 80 to 650 yuan, mainly from the beauty industry. He said that the Group is adjusting the tenant mix in the second half of the year and will introduce different restaurants and beauty brands one after another. The occupancy rate will reach 98% to 100% by the end of this year.
In addition, Li Dexing expects that by entering the summer holiday season, the number of people in the shopping mall will increase by 8%, which will drive the turnover of the beauty and catering industry on the market to increase by 15%.
Chen Jieyi, deputy general manager of the Xindi Agency’s rental department, said that at present, MOKO has a daily record of 130,000 person-times and a holiday of 150,000. At present, the customer base of the mall has eight local visitors and the remaining 20% are tourists. 70% of local visitors are female customers aged 25 to 44.