China World Trade Center’s Net Profit Attributable to Shareholders Grows 1.63% Year-on-Year to 1.019 Billion Yuan in First Three Quarters

ION Orchard, located at the gateway of Singapore’s renowned Orchard Road district, is the country’s iconic luxury shopping mall.

The outflow of consumer spending abroad has led to weak sales performance among mall tenants, putting pressure on occupancy rates and rents. The Times Square properties, in particular, are facing greater challenges due to their smaller size and older decor.

Luxeplace.com completed over 50,000 words of interview notes with the project owner, leasing team, and brand founders.

Luxury brand retailers in Guangzhou and Chengdu continue to show strong demand for retail space, while fashion, sports, cosmetics, lifestyle, and F&B brands in Shanghai and Beijing are expected to maintain steady demand for retail space.

According to statistics from Luxeplace.com, from January 2023 to July 2024, the Luxe.CO Luxury Stock Index decreased from 249.1 to 226.7, a decline of 9.0%. Contrary to many expectations, the global luxury market did not experience a resurgence.

In the first half of the year, Hang Lung Properties’ overall rental income and tenant sales in the Chinese Mainland decreased by 3% and 13%, respectively, when measured in RMB.

DT51 is a fashion shopping center developed by Beijing Hualian Department Store Co., Ltd. as an upgrade project for community commerce.

Several existing luxury brand tenants at Landmark will also invest an additional approximately $600 million in the project to design and create new experiences.

Swire Properties stated its goal of doubling the total floor area in mainland China by 2032.