MegaBox set to become a mega hit
Even before its official 'grand opening' later this year, the gigantic MegaBox mall in Kowloon Bay has become a new Hong Kong shopping and entertainment landmark.
How has it made such an instant mark despite being a 10-minute walk from the MTR and in a factory and warehouse district?
'The key to attracting shoppers from established malls has been thinking out-of-the-box and big, with both shopping and entertainment,' said Czarina Man, general manager for marketing for MegaBox Development, the subsidiary of Kerry Properties which developed the new mall.
Embracing 1.1 million sq ft of retail space and developed at a cost of HK$2 billion, MegaBox is by far the largest mall in Hong Kong. It is also billed as the first 'vertical mall' - spread over 19 floors beneath two office towers at Enterprise Square 5.
With rents more affordable than in established shopping districts, it is introducing to malls a new concept of 'Big Box' tenants that require large outlets to showcase their wares.
About 60 per cent of MegaBox is taken up by tenants occupying more than 10,000 sq ft. The single largest is B&Q, Britain's leading home improvement retailer, showcasing 25,000 products over 120,000 sq ft and employing more than 200 staff.