Hong Kong landlords are introducing big-spending promotions to entice shoppers through their shopping centres as they compete for business for their retail tenants this summer.
'We have to provide new events to attract shoppers,' said Maureen Fung Sau-yim, the general manager of Sun Hung Kai Real Estate Agency.
Sun Hung Kai would spend HK$7 million to hold events and promotional campaigns in its 11 shopping centres this summer - up 30 per cent on last year's budget, Ms Fung said.
That message was echoed in interviews with Wharf (Holdings), Kerry Properties, Swire Properties and Sino Land.
In its Kwun Tong shopping centre, Ms Fung said Sun Hung Kai had planned 600 promotional events for July and August and would provide free entertainment such as gymnastics displays by a Canadian team, as well as gymnastics instructions for young visitors, and a book fair.
Summer holidays were not traditionally a peak retail season, but Hong Kong lifestyles were undergoing a change, she said. 'Visiting shopping malls has become more of a habit and shoppers now have higher expectations,' she said.
Ronnie Chan Yam-ling, the general manager of Sino Land's Tuen Mun Town Plaza, said the company would spend HK$5 million on displays and events during the summer holiday - a 25 per cent increase on last year's budget.
