Two sites are mandated to include cinemas in their leases.
According to a report from the South China Morning Post, the government will mandate two commercial sites earmarked for sale in Kai Tak and Sha Tin to include cinemas in their land leases, as the government attempts to shore up the creative industries amidst soaring rents.
Rules set a fixed number of seats for cinemas, whilst also stating that future modifications can only be made after seven years, and must be vetted by the government. Industry insiders welcomed the move, but a property advisor questioned if the market should be left to adjust on its own.
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