For immediate release
14th May 1997
Major Hong Kong Representation at World's Premier Retail Show
Hong Kong will make a strong presence at the 1997 ICSC Las Vegas Convention and Leasing Mall, the world's premier retail trade show held in May every year, with a delegation comprising the territory's major retail centre developers. ICSC, the International Council of Shopping Centres, organises the show which is the largest and most important of its kind in the industry.
Co-ordinated by Swire Properties Ltd., the Hong Kong delegation consists of Cheung Kong (Holdings) Ltd., Hang Lung Development Co. Ltd., Henderson Development Co. Ltd., Hongkong Land Ltd., Hutchison Whampoa Ltd., the Mass Transit Railway Corporation, Sino Land Co. Ltd., Sun Hung Kai Properties Ltd. and Wharf Properties Ltd.
It represents the strongest international presence at this year's ICSC exhibition, which will feature for the first time ever a dedicated exhibition area for Hong Kong, a 3,000-sq-ft Developers of Hong Kong Pavillion. An estimated 30,000 delegates from around the world will visit the exhibition, which will comprise 600 booths and stands spread over 2 million square feet of space.
Swire Properties took part in the 1996 exhibition under the Asian Pavillion, together with a number of other Asian developers and agents including Cheung Kong, Ayala Land and Jones Lang Wootton from Hong Kong.
"Our participation last year proved to be a worthwhile experience, with some very interesting enquiries made about Festival Walk, our one-million-sq-ft retail centre under construction in Kowloon Tong," said Swire Properties Director Mike Moir.
"This has prompted us to take the initiative and propose to the members of the Real Estate Developers' Association (REDA) to form a Hong Kong delegation this year. We are very glad to have been able to put together such a strong presence at Las Vegas, which will amply demonstrate to US retailers Hong Kong's immense market potential, the world class quality of our retail centres and the rich pool of expertise available here - expertise not just in the Hong Kong market, but also in China where some members of the delegation are undertaking significant retail developments."
According to Mr Moir, US retailers are aware of the immense potential of the Asian markets, and generally perceive Hong Kong as the place to start outside of Japan and as a stepping stone into the vast China market. However, they lack an understanding of the markets and how to enter them.
"The pavillion will reinforce US retailers' perception of Hong Kong as the leading Asian market," said Mr Moir. "It is also an excellent showcase of all existing and future retail locations of significance, and will help US retailers identify suitable locations for their operations."
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