Li Ka-shing’s CK Asset Holdings says malls unaffected by protests, will open Tsuen Wan shopping centre as planned

CK Asset Holdings, Hong Kong’s second-largest property developer, said on Tuesday its malls had been unaffected by the city’s anti-government protests and that the planned opening of a four-storey shopping centre in Tsuen Wan would proceed as planned.

OP Mall, located above Tsuen Wan West MTR station, began a trial phase in August and will officially open in the second or third quarter.

“Despite the social movement, many tenants have gone on to open their stores here, and that is a sign of their confidence in the mall,” said Justin Chiu, executive director of CK Asset Holdings. A number of shops had already opened at the 430,000 sq ft mall, he added.

Long queues formed on Tuesday afternoon at the shopping centre’s anchor tenant, Japanese discount chain Don Don Donki, which opened its 50,000 sq ft store in December.

“It is only a weekday, but you can see people are constantly buying things at the cashier. There have been long queues ever since it opened on December 12,” said Resina Wong, director of Cheung Kong Real Estate, CK Asset’s property investment unit.

More expensive items, such as Japanese fruits and whisky, were most popular, suggesting that consumers in Hong Kong were still willing to spend, she added. “If you live in Tsuen Wan, you can walk here without taking any transport, so we are not too worried about the impact of the social movement,” Wong said.