Few things age faster than a business plan built for a world that no longer exists. That may be the most important lesson from the saga of 11 Skies, the vast retail, entertainment and commercial complex beside Hong Kong International Airport that now appears destined for a dramatic reset. Reports that the Airport Authority could take majority control of the project from its private developer have triggered debate over who should bear the cost and who made the wrong bets. The real story of 11...
Hong Kong is likely to attract more mainland Chinese retail brands, but unlike the previous wave, non food and beverage (F&B) retailers are the ones ramping up their presence, according to analysts. The change in profile of mainland brands coming to Hong Kong is helping the city’s landlords fill vacant spaces amid an uneven recovery in the retail property market, according to JLL. In the first four months of the year, more than one fifth of new entrants in the city’s retail market were mainland...