bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

authorLocations

authors

corrections

sponsorType

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

quizIds

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

paywallTypes

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

SCMP Reporter

The developers of the new Tsim Sha Tsui shopping centre K11 aim to differentiate their retail offering in the crowded shopping precinct by maintaining permanent art exhibitions in the 340,000 square foot mall.
A joint-venture project by New World Development and the Urban Renewal Authority, K11 comprises the 384-room Hyatt Regency Hong Kong, 345 serviced apartment units and a shopping centre offering 340,000 sq ft  of restaurants and shops.
The project, which cost  more than HK$2.5 billion for construction, is scheduled to open in the third quarter of next year.
Adrian Cheng Chi-kong, an executive director of New World, said that to differentiate itself from other shopping centres in the district, K11 would be positioned  as the city's first  'art mall'  - a combination of art gallery and shopping centre.
By combining the attractions of  exhibitions with  shopping,  the new mall would stand out in the highly competitive retail property market in Hong Kong,  Mr Cheng said, particularly since it was located close to the art museum and cultural centre in Tsim Sha Tsui.
He said 30 permanent art collections including sculptures, paintings and interactive  installations  would be  featured in the mall, which would also provide 20 dedicated showcase windows  for displays by local and mainland artists.
'It's not intended to be merely decorative. It's part of the experience of visiting the mall,' Mr Cheng said.
He added that  the mall would also present events  co-hosted with art organisations and establish a K11 Artists' Club to promote artistic activities.
New World said it would seek to present alternatives to the luxury brands most commonly on display elsewhere and offer more individually styled 'art' brands better suited to the mall's concept.
Pre-leasing of space had  begun and responses were encouraging,  Mr Cheng said.
Besides K11,  at least two other shopping centres are scheduled to open in Tsim Sha Tsui  in the  next two years, providing more than 1 million sq ft of retail space.
First to be completed will be iSquare on 67 Nathan Road - the former home  of the  Hyatt Regency - which is now owned by Associated International Hotels and is scheduled to open next year, offering 600,000 sq ft of gross floor area   to accommodate shops, cinemas and restaurants.
Chinese Estates Holdings' Tung Ying Building is  being redeveloped into a shopping centre from  an office and retail building and will offer 403,715 sq ft of gross floor area when it opens in early 2010.
In addition, 1881 Heritage - a conservation project  for the former marine police headquarters - will offer 120,000 sq ft of space for restaurants and shops  and a boutique hotel upon completion this year.
'I think the completion of additional shopping malls in Tsim Sha Tsui will create  synergy with  existing shopping centres as they may attract shoppers who did not take the time to visit Tsim Sha Tsui before because of the lack of choice,' said Joe Lin, a senior director for retail services at CB Richard Ellis.
The frontline for shoppers used to be the shopping centres along Canton Road, in particular  Harbour City, which hosts more than  700 shops including many international luxury brands.
Mr Lin said the redeveloped Tung Ying Building and K11 could help extend that line to the eastern side of Nathan Road and added that street-front outlets would benefit from the higher traffic in the district.
Rentals were  likely to be driven higher, he said, noting that it was too early to predict the  level of the increases as the latest malls  had yet to open and pressure on rents would also be subject to the overall economic environment when the new facilities did open.



New World's K11 mall in TST redefines the art of shopping