Miramar Hotel and Investment, the hotel investment arm of Henderson Land Development, will carry out a facelift of its shopping centres in Tsim Sha Tsui to target local shoppers.
The shopping complex at the Mira hotel in Nathan Road would be combined with the nearby Miramar Shopping Centre and rebranded as Mira Mall, said Felix See, the chief operations officer at Miramar.
The renovation of the four-storey shopping complex at the hotel has been completed.
The second phase of the renovation of the shopping centre has started and the project is expected to be completed in three years.
"Mira Mall is targeting local female shoppers instead of mainland tourists. We have noticed that the spending power of local shoppers is high as well," See said.
Helen Mak Hoi-lun, a director of retail services at consultancy Colliers International, sees it as Miramar's marketing strategy to differentiate itself from other shopping centres.
The first phase of Mira Mall provides a retail space of 100,000 square feet, with 90 per cent of the space already leased. The company believes it will be fully let when it opens next month.