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Lawrence Heung

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The remarkable surge in retail rentals reflected a strong demand for retail properties in the market.

Equally significant is that among all overseas visitors, mainland visitors are the most willing to spend on shopping, with each visitor spending close to 3,000 HK dollars (390 US dollars) on average, nearly double that of US shoppers.

Shoppers nowadays are typically in pursuit of young, trendy and fashionable brands, as well as a completely different and rewarding shopping experience. This has made the replacement of conventional department stores with various smaller multi-brand units an inevitability for landlords in order to give their malls an exciting and trendy image that would suit young shoppers' needs, while boosting their level of rental income.

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