A 100,000-square-foot cinema similar to Shaw Brothers' defunct premium Palace theatre will open next year at the Elements shopping mall above Kowloon Station, underscoring intense competition for unique tenants. The multiplex cinema is among a string of first-time tenants in the city. Elements, an 800,000 sqft two-storey shopping and entertainment complex, seeks to fend off competition from rivals on Canton Road and Kowloon Tong, according to Betty Leong Sin-ling, chief retail development manager of MTR Property Management, which manages Elements. Estimated to cost at least HK$100million, the yet to be named cinema complex is a joint venture between film producer Shaw Brothers and Intercontinental Film Distributors. Shaw Brothers, a company of Sir Run Run Shaw, is aiming to restore the glory days of the Palace, a Causeway Bay attraction shut down in 1994. The new cinema will feature 12 houses with 1,700 seats. Ms Leong said other 'Hong Kong's first' tenants in the complex included Southeast Asian specialty bookstore Powerbooks, a US top-end supermarket, jewellery stores and fashion brands and a number of three-star Michelin restaurants. The shopping mall will have a 40,000 sqft supermarket specialising in organic food. Ms Leong said 80 per cent of the 800,000 sqft mall had been leased out with the average rent matching those of other malls on Canton Road. 'We offer no rental concessions given the low supply of retail space in Tsim Sha Tsui and high demand for huge floor areas,' she said. Elements is owned 80 per cent by the MTR Corp and the rest by property developer Sun Hung Kai Properties.