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Citygate Outlet team bids for another site at HK’s Tung Chung – Retail in Asia

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Citygate Outlet team bids for another site at HK’s Tung Chung

A team of five-strong Hong Kong consortiums made up of Swire Properties, Sun Hung Kai Properties, New World Development, Henderson Land Development and Hang Lung that runs Citygate Outlet shopping mall in Hong Kong’s Tung Chung last Friday submitted a bid for a nearby commercial site in that area. The site is believed to be earmarked for a shopping centre.

The consortium’s bid for the site was estimated at HKD1.1 billion (USD141.8 million). Observers believed the teaming up of the five heavyweights could expand the existing outlet mall business model onto the site.

Given Citygate Outlet Mall’s nearly 10-year record of operation and the close to 80 brands at the mall, it would be easier to line up more retailers for the new mall.

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