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Hong Kong property firm K11 taps Paddington Bear, KidZania for 11 Skies complex’s first entertainment offerings
- The complex will feature more than 800 shops and over 120 dining options
- Project will redefine the concept of ‘retailtainment’ in Hong Kong, 11 Skies says
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The first four tourist attractions of New World Development’s (NWD) 11 Skies complex in Hong Kong International Airport’s Skycity are set to open from the end of 2023 to early 2024.
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The complex will feature more than 800 shops and over 120 dining options, 11 Skies, which is operated by K11 Group, said. The first phase of 11 Skies – three grade A office towers called K11 Atelier 11 Skies with 570,000 sq ft of space – opened this month. K11 was founded by NWD CEO Adrian Cheng in 2008.
The details of the four entertainment attractions at 11 Skies come as retail sales show some signs of recovery. The sector was stimulated by the latest round of Hong Kong’s Consumption Voucher Scheme. Retail sales rose 11.7 per cent year on year in April, but fell 1.7 per cent in May as the effect of the voucher scheme faded.
Leasing activity also picked up modestly in the second quarter, in both core and suburban locations after a slow first quarter, mainly driven by the food and beverage, grocery and lifestyle segments, Savills said.
“After a tough first quarter, market activity lifted in the second, and modest rises in rents were seen in some areas,” said Simon Smith, regional head of research and consultancy, Asia-Pacific at Savills. “The latter half of the year will see a spending boost from the Consumption Voucher Scheme, but higher mortgage rates and slower growth may hold consumers in check.”
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