HK property developers show support to government's plan to launch night markets

Hong Kong property developers such as Sun Hung Kai Properties, Hang Lung Properties, New World Development and Sino Group are supportive towards the government's latest plan of introducing night markets to boost local economy.

In a conversation with MARKETING-INTERACTIVE, Maureen Fung, executive director of Sun Hung Kai Properties said the group will fully support the government to invigorate the night economy. “Currently, the profit made from evening dine-in services account for more than one-third of the total revenue of Sun Hong Kai's malls. Therefore, performing well in the services at night, or even extending our malls' business hours, can boost both sales for shopping malls and Hong Kong's economy,” Fung said. 

She added that apm, one of the shopping malls under the group, is experienced in operating night markets. It would invest resources and encourage tenants to offer exclusive discounts to visitors at night, in an effort to support the government's night market initiative.

Meanwhile, a spokesperson from New World Development, another leading conglomerate based in Hong Kong, also said the group would actively cooperate with the government to promote the "night economy". “We will actively consider extending the business hours of our malls on particular days, holding night activities to engage with consumers and revive the night economy in Hong Kong,” the spokesperson said. 

Owning eight malls in Hong Kong including Fashion Walk, Peak Galleria, Kornhill Plaza and Amoy Plaza, Hang Lung Properties' deputy director Helen Lau said that the group is also supportive towards the government's measures in boosting the night economy in Hong Kong. “Initiatives such as organising activities to drive footfall and fostering collaborations with tenants are under consideration,” Lau said.

To encourage night-time consumption, Sino Group’s shopping malls are also supporting the government's plan with an array of night offerings. It is giving out 10,000 free coupons to redeem alcoholic drinks. For example, customers who spend HK$500 or above in a single transaction at Citywalk, a Sino Group shopping mall, after 8pm can redeem a free glass of draft beer. At the same time, major Sino shopping malls will launch Mid-Autumn Festival events to encourage spending after 8pm.

Don't miss: Hong Kong to introduce night markets and more exhibitions to boost local economy

This comes as Paul Chan, the city's financial secretary said recently on his blog that there is a need for Hong Kong to regain its competitiveness and ability to lure back tourists through innovation, quality services and outdoor experiences as consumer behaviours had changed after the pandemic. He said Hong Kong will introduce night markets and host more conferences and exhibitions in an effort to drive the city’s economic recovery. 

Related articles:

Hong Kong to introduce night markets and more exhibitions to boost local economy
HK finance chief: Over 25 tech firms to set foot in Hong Kong
Top 10 strongest brands in Hong Kong