Gucci-Crazy Chinese Fuel Soaring Shop Rents in Hong Kong

By Kelvin Wong - 2012-05-21T16:01:00Z

Pedestrians walk past advertising billboards for watches and jewelry in Russell Street in the shopping district of Causeway Bay in Hong Kong, China.

Pedestrians walk past advertising billboards for watches and jewelry in Russell Street in the shopping district of Causeway Bay in Hong Kong, China. Photographer: Jerome Favre/Bloomberg

Wharf, which runs the 1 million-square-foot Times Square shopping mall opposite Soundwill Plaza, has gained 106 percent since early 2009.

Wharf, which runs the 1 million-square-foot Times Square shopping mall opposite Soundwill Plaza, has gained 106 percent since early 2009. Photographer: Jerome Favre/Bloomberg

The logo of a Hennes & Mauritz AB store is reflected on the hood of a vehicle on Queen's Road in Central district in Hong Kong, China.

The logo of a Hennes & Mauritz AB store is reflected on the hood of a vehicle on Queen's Road in Central district in Hong Kong, China. Photographer: Jerome Favre/Bloomberg

Rent from Soundwill Plaza -- whose ground-floor tenants include watch-sellers Omega and Tag Heuer, and crystal-ornament maker Swarovski, while on the upper floors are high-end spa salons and a yoga studio -- accounted for a quarter of the companys earnings in 2011, said Victor Chan.

Rent from Soundwill Plaza -- whose ground-floor tenants include watch-sellers Omega and Tag Heuer, and crystal-ornament maker Swarovski, while on the upper floors are high-end spa salons and a yoga studio -- accounted for a quarter of the companys earnings in 2011, said Victor Chan. Photographer: Jerome Favre/Bloomberg

Construction work takes place at Hysan Development Co.'s Hysan Place in the shopping district of Causeway Bay in Hong Kong, China. Hysan Development Co., the biggest landlord in Causeway Bay, has risen 168 percent in the period.

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Gucci-Crazy Chinese Fuel Soaring Shop Rents in Hong Kong