Real estate market
Written by: Rong Youwei
2021-06-16 19:23
Last update date: 2021-06-16 19:32
The Tai Kok Tsui branch of Citistore, a department store of Henderson Land Development, is known to be operating until the end of this month.
The Qianse Citistore branch located at Tai Kok Tsui Harbour Plaza Base Mall has been opened for nearly 15 years and is the brand’s only Kowloon branch store. The shop used to occupy more than 80,000 square feet. It was reduced by half to approximately two years ago. Less than 40,000 square feet.
Last month, a notice of "Closing of Business" was posted outside the store, and a discounted price clearance was launched.
Qianse Citistore, formerly known as Qianse Store or Qianse Department Store, is a department store wholly-owned by Henderson Development (0097) under the "Four Uncle" Lee Shau Kee and currently chaired by Li Ka Shing. The branches are all located in Henderson Properties and shopping malls.
At present, Citistore has six branches in Hong Kong. In addition to the Tai Kok Tsui store mentioned above, the remaining branches are located in Tsuen Wan Qian Se Hui, Yuen Long Qian Se Hui, Ma On Shan Sunshine City Center, Tuen Mun Times Square, Tseung Kwan O Metro City Center Phase II.
The aforementioned Tai Kok Tsui Thousand Color Citistore is located at the base of the housing estate, Metro Harbour View. It is not close to the MTR Olympic Station. The shopping mall is mainly used by residents of the above-covered housing estate. Therefore, the mall was once described by netizens as a "dead place". ".
As of the end of last year, Henderson's department store business had an after-tax profit of 127 million yuan, driving the group's net profit to increase by 65 million yuan year-on-year.
Among them, the after-tax profit of Qianse Store recorded 94 million yuan, an increase of 18 million yuan or 24% year-on-year.
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