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Sun Hung Kai logs YOY sales, foot traffic growth over Chinese New Year holiday

Sun Hung Kai Properties Ltd. saw a positive start to the Year of the Fire Rooster as 12 of its malls in Hong Kong posted year-over-year growth in sales and foot traffic during the weeklong holiday, The (Hong Kong) Standard reported.

The company's properties recorded a 10% increase in total sales between Jan. 25 and Jan. 31 to more than HK$250 million, while foot traffic was up 11% to over 10 million people, according to Maureen Fung Sau-yim, Sun Hung Kai Development (China) director.

Sun Hung Kai Properties' apm, Tai Po Mega Mall, Yuen Long Plaza, The Sun Arcade and Sun Kwai Hing Plaza led the increase in foot traffic. Sales at the apm shopping mall particularly increased 10% to HK$88 million driven by apparel, cosmetics and entertainment product sales, while traffic rose 12% to 2.5 million people, according to the Feb. 1 report.

The company is also planning to raise rents in 2017 for 10 properties, including wtc more, East Point City, Landmark North, Park Central, Mikiki and PopWalk.