Business Overview | Harbour City

Harbour City, the Group's flagship property situated in the commercial hub of Tsim Sha Tsui, generates over 60% of the Group's gross rental income from its 8.4 million square feet of prime commercial space comprising offices, retail shops, serviced apartments, hotels and club, and approximately 2,000 car parking spaces. With its 700 shops including 50 restaurants and two cinemas, Harbour City is home to Hong Kong's largest shopping, dining and entertainment centre.

Retail

Harbour City is the largest retail complex in Hong Kong with its two million square feet of retail space that represents 75% of the retail area of Canton Road. It offers the critical mass in the heart of the most dynamic retail location of Hong Kong for a captivating "shoppertainment" experience that enchants new and regular shoppers.

Harbour City offers a comprehensive mix of stores across a finely-calibrated price point matrix of luxury, middle market and high street brands. Retail clusters such as KidX (the best of class selection for kids), Cosmetics (over 200 brands), SportX, Audio-visual Centre and Shoes (more than 100 brands) provide distinct and unique shopping experience for its patrons. To enhance its market leadership, Harbour City has recruited close to 60 new brands to open stores during 2011 and 2012, with some of them making their debut in Hong Kong or Kowloon.

The shopping complex is a popular spot for festive celebrations. In addition to the annual iconic Canton Road street party on Christmas Eve and the talk-of-the-town festive mall decorations, Harbour City has rolled out a series of fun and engaging events to attract shoppers and sales. Among others, the popular mega "Chocolate Trail" proved to indulge shoppers with chocolate treats during the Valentine's Day and Chinese New Year Lantern Festival. The promotion has won Harbour City the International Council of Shopping Centre' Silver Award in the category of "Sales Promotion and Events" in 2011.

Harbour City is among the first malls in Hong Kong to incorporate art elements into mall events, making art appreciation part of people's daily lives. In addition to a number of art events held at the mall throughout the year, Harbour City has also devoted a 1,000-square-foot prime retail space on Level Two of Ocean Centre for the establishment of the unique "Gallery by the Harbour". Boasting a 20-foot high ceiling and full-height glass wall, this admission-free art gallery offers visitors a unique experience of appreciating art pieces from around the world against the backdrop of the stunning Victoria Harbour.

Retail Tenant Mix (by Rental and Area)

  % by Rental % by Area
Fashion 32.8 29.9
Leather Goods - Shoes Bags & Related Trades 24.8 12.0
Jewellery, Beauty and Accessories 16.8 7.8
Department Stores, Confectionery Products 12.8 19.4
Restaurant, Fast Food, F&B 3.5 13.6
Electrical & Audio-visual Equipments 2.9 2.9
Children's Wear & Related Trades, Toys 2.7 6.7
Sports Wear 2.2 2.8
Others 1.5 4.9
  100.0 100.0

Office

Boasting 4.4 million square feet in total, Harbour City offers the largest Grade A office portfolio in Kowloon with 10 commercial buildings including Gateway Tower 1, 2 and 6, Prudential Tower, Sun Life Tower, Ocean Centre, World Finance Centre (South and North), Wharf T&T Centre and World Commerce Centre. The convenient location, reputable property management services and ancillary features including the mega mall, Marco Polo hotels, fitness centre and private recreational club, make Harbour City the natural office location for many multinational, Mainland and local enterprises.

Serviced Apartments

Situated on top of the Harbour City Gateway Towers, Gateway Apartments offers 499 tastefully furnished apartments from studio units to deluxe three-bedroom and penthouse suites. It is undoubtedly an ideal home for the discerning residents who look for the highest level of elegance and convenience. Its outstanding service standards were recognised with "The Best Serviced Apartment Award in Hong Kong 2011" presented by Squarefoot.com.hk Magazine.


Portfolio Information

  Gross Floor
Area
(sq ft)

Revenue
(HK$ Million)
Average
Occupancy
(%)
Year-end
Valuation
(HK$ Million)
Retail 1,948,000 3,571 97 41,869
Office 4,435,000 1,614 94 43,881
Serviced Apartments 670,000 300 88 7,800
Hotel and Club 1,364,000 1,150 85 6,940



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