Business Overview | Times Square


Times Square, the Group's flagship property, boasts a massive 900,000 square feet of retail space, over one million square feet of top quality Grade A office space, and 700 car parking spaces in the heart of Causeway Bay. With more than 230 shops, this mega mall offers shoppers a total one-stop shopping and entertainment experience.

Retail

Times Square is the most successful vertical mall in Hong Kong and probably the only one with over HK$1 billion of annual retail rental turnover. Its success lies in an unique 16-level design, comprehensive and diverse trade-mix and direct link to the mass transit railway in the prime retail district on the Hong Kong Island.

With constant trade-mix refinement, strong branding and marketing programmes including the annual signature event of the New Year's Eve Apple Countdown, Times Square continues to reinforce its positioning of "The place of Happenings". The mall is recognised as a top venue for talk-of-the-town events and a leading shopping landmark in Hong Kong. Over the years, it has also evolved into an art and cultural hub by supporting and organising exhibitions of both local artists and world-renowned masters.

The cinema relocation, with a view to adding immense retail value to Times Square, progressed as planned. The new retail shops at the ground and lower floors, as well as the new cinema on 12th and 13th floors are scheduled to open in the second half of 2013.

Completion of the cinema relocation will further enhance Times Square's zoning strategy and shoppers' traffic distribution for the mall. Times Square will strive to strengthen its leading position as a must-visit shopping landmark in Hong Kong through brand-mix refinement for an all-round and unique shopping experience.

Retail Tenant Mix (by Rental and Area)

  % by Rental % by Area
Fashion 34.8 24.8
Jewellery, Beauty and Accessories 27.2 15.2
Department Stores, Confectionery Products 15.4 23.6
Electrical & Audio-visual Equipment & Entertainment 9.0 9.0
Sports Wear 6.5 4.8
Restaurant, Fast Food, F&B 5.8 18.6
Others 1.3 4.0
  100.0 100.0

Notes:
(a) UA Times Square (20,348 sq. ft.) moved out in the end of January 2013
(b) 12/F and 13/F of Food Forum (49,705 sq. ft.) was under reconfiguration


Office

Times Square office towers, namely Tower One and Tower Two, continue to be the preferred locations for multinationals especially those in the service and consumer goods industries.

Portfolio Information

  Gross Floor
Area
(sq ft)

Revenue
(HK$ Million)
Average
Occupancy
(%)
Year-end
Valuation
(HK$ Million)
Retail 936,000 1,352 98 29,751
Office 1,033,000 556 97 13,849



| Top |