Sun Hung Kai Properties Ltd. is teaming up with Hong Kong entertainment and recreation company Multiplex Cinema Ltd. to open a HK$400 million cinema in the Sha Tin district of the city, The (Hong Kong) Standard reported.
The 1,700-seat cineplex will be located in the developer's New Town Plaza shopping mall and will comprise seven halls, and it is expected to become the biggest cinema in Hong Kong's New Territories area, according to the May 15 report.
Henry Lam Ka-keung, Sun Hung Kai's general manager of leasing, was cited by the publication as saying that aside from the general investment in the movie town, the developer plans to pump HK$10 million into promoting and advertising the development.
Meanwhile, the 2-million-square-foot New Town Plaza mall is expected to receive a 10% climb in footfall after the cineplex opens, with store sales expected to see a 12% boost.
