Monthly rent exceeding HKD 3 million, making it one of the highest-value leases in Hong Kong since the outbreak of the COVID-19 pandemic.
In FY2022, footfall improved 11% points from January to December 2022, ending the year at 90% of 2019 levels; sales remained ahead of 2019 levels.
China’s IFS properties, including Changsha IFS and Chengdu IFS, under The Wharf (Holdings) Limited, have experienced their first revenue decline in recent years.
China has officially lifted the pandemic restrictions it had in place on January 8. Cross-border travel and international tourism have been reinstated, greatly boosting the confidence of international luxury markets.