Laws Group defies retail slump with a mission to give industrial buildings a new lease on life

A decline in tourists and the weak economy may hit Hong Kong retailers hard but Laws Group deputy chairman and chief executive Bosco Law Ching-kit still believes in his mission to turn old industrial buildings into shopping malls for families that he is offering a new one for lease from this month.

The new shopping mall, D2 Place Two located at Lai Chi Kok, is the brain child of Law who converted one of his family-owned industrial buildings into an office and retail complex. The building, available for lease starting from last week, is expected to have three floors of retail shops and seven floors for offices, plus one level for car parking.

The themes of the new mall would be arts, music, sport, and food and beverage. It is located opposite D2 Place One which was launched three years ago as a specialised shopping mall for fashion designers and fashion related products.

“It is true that it would be easier if we only turned the old industrial building into office areas. While retail space has found it hard to bargain for a good price amid the reduction in tourists and weak economy, office areas still have a very stable and strong demand,” he said in an interview with the South China Morning Post.

“However, it is my belief that I would like to turn old buildings into shopping malls to support the innovative industry. This would give new life to the old buildings.”

Law said that while D2 Place One aims to attract the younger generation who want to buy the latest fashion products, D2 Place Two would target a wider age group including family visitors.