PRIME SHOPPING DISTRICTS

No other place receives a higher retail traffic than Mongkok. The district is packed with mega trendy malls, computer shopping centres, and lined with specialty shopping streets themed after their merchandise, such as the “Sneakers Street”, the “Ladies Street”, the “Gold Fish Street” and the “Guns Street”, with a huge variety on offer to satisfy shoppers’ desires. Retail properties in areas like Sai Yeung Choi Street, Tung Choi Street, Fa Yuen Street, Dundas Street and Nelson Street are especially coveted, and transactions extremely active. Since most of the retail stores open until early hours in the morning, traffic remains high even after 10 pm, making Mongkok a popular nightlife spot and a favourite hangout for ‘night owls’.

The two sections of Sai Yeung Choi Street span from Dundas Street to Argyle Street for the first, and from Argyle Street to Boundary Street for the second. The first stretch , or Sai Yeung Choi Street South, has the highest traffic. Other than the Mongkok Centre and New Town Mall which are jam-packed with shoppers every day, there are also many large electronics chain stores, giving the street its name “Electronics Street”. Products of all famous electronics brand names are readily available as both regular and parallel imports, and their attractive prices, always lower than those in other areas, attract throngs of local consumers and tourists alike. Besides electronics stores, many cosmetics chain stores are located along the street.

There are many trendy shopping malls on Dundas Street, such as Trendy Zone, Gala Place and CTMA Centre, featuring mainly snack vendors at the street level. Due to its proximity to the school zone, Dundas Street is also the hangout for students after school hours in addition to shoppers, bolstering its constant flow of traffic. A variety of businesses such as fashion retailers and coffee shops are capitalizing on this trend and are moving into Dundas Street. As a result, vacancies are at very tight level, whether in terms of lease or sale.

Home to many premium retail properties, Shantung Street enjoys a tremendous traffic flow. Linking the two specialty streets - Ladies Street (Tung Choi Street) and the Sneakers Street (Fa Yuen Street), Shantung Street is the converging point of the two-pronged traffic.

The Yaumati to Mongkok stretch of Nathan Road is known as the “Gold Street” for the jewelry business. The busy traffic along Nathan Road has attracted jewelry stores to set up branches there as catchment for both local consumers and tourists. Owing to its prime location and easy accessibility, property owners hold onto their assets, making property sale extremely rare.

The “Sneakers Street” loosely refers to the area along Nelson Street and Fa Yuen Street, where over 60 sneakers retailers are located. Most of these stores are operated by the leading sneakers chain stores known as the ‘Big Five’. Availability of properties for sale is extremely low, and transactions are rare.

The stretch of Tung Choi Street between Argyle Street and Shantung Street is also known as the ‘Ladies Street’ as vendors there started off by selling ladies’ clothing and accessories. The now increasing variety of retail businesses has drawn many eateries to relocate to there. Currently, there are approximately 16 eateries, among them mostly Hong Kong style tea restaurants and snack shops for the lower- end consumers.

Completion of the Langham Place project in 2004 has given a whole new look to the area west of Nathan Road. Retail spaces in the area are continuously attracting attention from the market. Transaction of retail spaces is increasingly active, in particular those in proximity to the Langham Place. The stretch of Portland Street between Argyle Street and Bute Street is also known as the “Construction Materials Street”. The themed area has a history of over 30 years, and currently consists of over 110 retailers selling a vast variety of construction materials from wallpaper, ceramic tiles, bathroom and kitchen fixtures to timber. Most of them have bought the properties that they are currently occupying in the early years. Due to the stable return of their investment, property owners highly value their investments and rarely put them out for sale. Riding on the success of the construction material business, many related businesses like lighting fixture, doors and locks are moving into the neighbouring Shanghai Street and Reclamation Street, making the area more robust than ever.