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  • April 24, 2014
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  1. Rents come under pressure

    Posted Oct 29th 2008, 12:00am by Yvonne Liu

    ... Yvonne Liu Retailers are asking landlords for rent cuts, scaling back operations and suspending expansion as sales decline. 'Sales volume in August and September dropped about 10 per ... expenditure, Mr Ng said the company would ask landlords to cut rents of shops in tourist areas. 'Shopowners raised rents sharply in the last two years. Retailers who opened new shops or renewed ...

  2. HK's strategic location outweighs high shop rents, says MCM

    Posted Mar 30th 2011, 12:00am by Peggy Sito

    ... Peggy Sito German luxury goods company MCM Products, which took over home-grown retailer Episode's shop to open its flagship store in Central, said the strategic position of Hong Kong as a gateway to the mainland would outweigh the cost of high shop rents in the city. Global brands would be undeterred by rising rents, it said. 'Hong Kong has always been an important ...

  3. Central office rents to fall by half, says Merrill

    Posted Oct 30th 2008, 12:00am by Yvonne Liu

    ... of 1997/98 and outbreak of severe acute respiratory syndrome in 2003. It also believes residential prices will drop by 20 per cent between now and the end of next year, while retail rents will drop ... Yvonne Liu Cost of grade-A space forecast to drop 50pc from peak by 2010 The global financial crisis will lead to office rents in Central falling by 50 per cent by 2010 from a peak ...

  4. Retailers need more than cash-flashing mainland tourists

    Posted Feb 03rd 2004, 12:00am by Stephen Craig

    ... in the United States than in Hong Kong's small, open economy. Now, landlords are itching to raise retail rents, and taking evasive action is even more difficult here. After years of deflation ... deflation and a strong dollar were not quite so bad if rents and costs fell faster than revenues. If retailers continue to quit Hong Kong, the victory over deflation may look somewhat hollow. ...

  5. Shanghai office rents tipped to rise 15pc on strong growth

    Posted Jan 12th 2011, 12:00am by Paggie Leung

    ... Paggie Leung The mainland's continued strong economic growth is prompting many companies to expand and upgrade their offices in Shanghai, and the trend is expected to drive rents of top grade A offices higher this year despite new supply. 'Rents will continue to rise on both sides of the river throughout 2011,' predicted Anthony Couse, managing director ...

  6. US fashion chain signs store lease for HK$11m a month

    Posted Jul 01st 2010, 12:00am by Yvonne Liu

    ... Yvonne Liu United States fashion chain Forever 21 will pay a monthly rent of HK$11 million to lease a six-storey retail arcade in Causeway Bay, the largest retail leasing transaction ... a year on average since 2008. Foreign fast-fashion retailers such as Zara and H&M are aggressively expanding in Hong Kong and are willing to pay top rents. H&M is paying a monthly rent ...

  7. 50th anniversary not so golden for Yue Hwa, shutting down in Central

    Posted Jul 16th 2009, 12:00am by Tanna Chong

    ... director and deputy general manager of Yue Hwa, said the closure was due to physical constraints of the location, slow sales and a rent rise. 'The current location [Des Voeux Road Central] ... a corresponding fall in Yue Hwa's operating costs. 'Rent has even increased in this financial crisis,' he said. The rent on the Central branch is more than HK$600,000 per month. Yue Hwa had ...

  8. First drop in retail sales for January to February

    Posted Apr 03rd 2009, 12:00am by Dennis Eng

    ... rents exacerbated an already tough business climate. Retail sales would continue to suffer under rising credit-card debts and more job cuts, she warned. In February, car sales continued ... Dennis Eng The value and volume of retail sales in the first two months of the year have fallen year on year for the first time, as job cuts and shrinking household wealth dent spending ...

  9. Global pain spreads to shopowners

    Posted Oct 29th 2008, 12:00am by Peggy Sito, Sandy Li, Yvonne Liu

    ... anticipated the slowdown by lowering asking rents. The average retail rental in four traditional shopping districts - Mong Kok, Tsim Sha Tsui, Central and Causeway Bay - fell 4 per cent quarter ... Chi-ho, a director of retail services at CB Richard Ellis. Rents could fall at least 20 per cent from their peaks when tenants renewed their contracts next year, Mr Lin said. However, operators ...

  10. Leases of life

    Posted Mar 09th 2005, 12:00am by Jane Moir

    ... are they reviewing rents, but they can now afford to be choosy with tenants. While even 18 months ago retail and office tenants were getting great deals on space, today they are likely to be facing double-digit rent rises. In Hong Kong's property market, when the shoe goes to the other foot, it goes fast. Despite brisker sales thanks to an influx of mainland tourists, some retailers ...




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