King Fook Unit to Lease Pacific Place Shop for HK$269 Million
MT Newswires Live
Oct 12
King Fook (HKG:0280) said its wholly owned subsidiary will lease a 550-square-meter shop at Hong Kong's Pacific Place for 72 months, according to a Monday filing with the Hong Kong bourse.
The basic rent will total about HK$268.5 million before deductions for the rent-free period.
The lease with Pacific Place Holdings is expected to begin on Feb. 1, 2028. The tenant will also pay a turnover rent of 6.75% to 6.9%, along with service charges and other fees.
The premises will house a single-brand watch boutique with VIP lounges and dedicated after-sales facilities, supporting the group's luxury retail expansion.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.