Twelve Sun Hung Kai Properties (SHKP) shopping centres, including the flagship APM mall in Kwun Tong, saw record sales of HK$12.9 billion last year, driven by mainland tourists.
Maureen Fung Sai-yin, the general manager of SHKP's leasing department, said this was a 30 per cent rise on the year before.
'Besides an influx of cashed-up mainland shoppers, the government handout of HK$6,000 boosted local consumption. We expect our retail rents to grow at a double-digit pace this year,' she said.
To sharpen the company's competitiveness, this year's promotion budget for the 12 malls would be increased 20 per cent to HK$130 million, 40 per cent of which would be directed to attracting mainland shoppers and providing incentives for big spenders.
Other than APM, the 12 malls include Tai Po Mega Mall in Tai Po, The Sun Arcade in Tsim Sha Tsui and Yuen Long Plaza.
Fung said sales attributed to mainland shoppers varied.