SHK PPT (00016.HK) will allocate more resources across its twelve major shopping malls (East Point City, Sheung Shui Plaza, North Point Exchange, Tseung Kwan O Center, Mikiki, PopWalk 天晉滙, Excellence Plaza, Kwan Tai Fong, Tsuen Kam Center, New Territory Plaza, life@KCC, and joy@KCC) this Christmas, increasing promotional expenses by up to 20% year-on-year. They will introduce multiple festive-themed decorations, consumer rewards, and thematic redemption activities to drive visits from citizens and tourists both inside and outside the region. It is anticipated that the foot traffic during the Christmas Gold period at the group’s twelve shopping malls will increase by double digits compared to the same period last year, especially benefiting Dining, beauty, jewelry, and home appliance sectors.
Director Chung Sau-lin of SHK PPT (Sales and Leasing) Agency noted that with the Christmas holiday approaching, citizens' desire to spend is clearly rising, contributing to a flourishing market atmosphere, particularly in the Dining sector. The reservation rates for winter solstice and Christmas at several restaurants in the group's malls have already reached 85% to 90%, with both Chinese restaurants and Western restaurants receiving multiple large table orders. It is believed that these reservation rates will gradually increase as Christmas approaches. Regarding other retail sectors or jewelry and watch merchants, business has also noticeably increased due to gift-giving during Christmas. Additionally, at the beginning of December, the mainland government resumed the "one visa multiple entries" policy for Shenzhen residents, making it easier for local residents to visit Hong Kong, which has clearly benefited the dining and retail tenants in the malls. Thus, it is expected that the foot traffic and business revenue of the twelve major malls during this Christmas Gold period will increase by 10% and 12%, respectively, compared to last year.
She also indicated that this year Christmas and Lunar New Year are only about a month apart, and after Christmas, citizens will be busy with New Year preparations. It is expected that in January, consumer sentiment will continue to be high, and foot traffic and consumer activity in the malls will remain vibrant during the Lunar New Year period.
