>

>

Luxury brands expand footprint at Hong Kong mall K11 Musea

By Atiqah Mokhtar

/ EdgeProp Singapore |

September 24, 2024 9:18 PM SGT

Prada will be opening a store at K11 Musea, while brands such as Balenciaga and Loewe will be expanding their stores (Picture: K11 Group)

K11 Musea, a mall in Hong Kong’s Tsim Sha Tsui area, is set to expand its luxury retail space by over 30,000 sq ft. In a press release, mall operator K11 Group says that the space is being taken up by six existing brands — Audemars Piguet, Balenciaga, Brunello Cucinelli, Loewe, Saint Laurent and Van Cleef & Arpels — that will be revamping and expanding their stores over the next four years, in addition to a new store by incoming brand Prada.

“We are excited that many leading luxury brands are expanding at K11 Musea, especially in the context of the current Hong Kong retail sector," says Richard Cheung, executive vice president of K11 Group. "This is largely the result of the strong performance and very high sales productivity at their current stores at K11 Musea.”

K11 Group said the mall hit a new single-day footfall record this summer. Tourist spending at the mall rose 10% this year, while F&B and retail sales increased by nearly 30%.

Read also: Cuscaden Reserve relaunched at prices from $2,900 psf, down 20% from average transacted prices

The group is a unit of Hong Kong property giant New World Development. The mall operator was founded in 2018 by Adrian Cheng, the current CEO of New World Development and son of property tycoon Henry Cheng. K11 Group’s portfolio of properties includes malls, offices and residences focusing on showcasing art, design and culture.

New World Development is the listed real estate entity for the Chow Tai Fook conglomerate, which the Cheng family controls. The conglomerate has holdings across multiple businesses, including property development, hotels, department stores and jewellery. Other key subsidiaries include Chow Tai Fook Jewellery Group and the Rosewood Hotel Group.

Tags:

K11 Musea New World Development K11 Group Shopping Mall

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Perennial Holdings and Far East Organization unveil Golden Mile Singapore, and will launch the strata commercial units this month

2

Novo Place hits 88.1% as 137 units snapped up in second balloting

3

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

4

Is it a Good Deal?: A duplex penthouse in Sentosa sold for a loss of $1.93 million

5

What’s next for Bayshore

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00