Sun Hung Kai Properties has revealed details of its planned new North Point shopping centre.
The retail component of the mixed use development, (pictured), which also combines apartments and a hotel, will comprise about 220,000 sqft, split into between 120 and 130 retail tenancies.
Restaurants and fashion stores will each take up about 30 per cent of the site, but retailers popular with mainland Chinese visitors, like jewellery and watch stores, will comprise just five per cent of the retail offer.
The development will feature uninterrupted water views.
SHKP is clearly targeting North Point mall at local residents and not daytrippers from across the border.
At a launch function for the new project, management said it expected about 80 per cent of the mall’s customers will be locals, including those living in the residences above. The balance would be tourists from all over the world, not specifically the mainland.
The new mall will be built on the site of the former North Point Estate. The Hong Kong government demolished the public housing estate back in 2002 to make way for a future development and SHKP bought the 310,000 sqft site in two parcels in 2012 and 2013.
GM of the company’s leasing department, Fiona Chung Sau-lin, said the project would be opened in two stages – the first part in the second quarter of 2017 and the remainder in the first quarter of 2018.