They are retail spaces' main demand drivers.
It has been noted that Hong Kong's transformation from a luxury goods-oriented retail market to a mid-range market will continue in 2016.
According to a research note from CBRE, mid-market retailers will benefit from the change in spending patterns and remain the main demand driver for retail space.
Some of them will use this window of opportunity to re-establish themselves in prime locations and/or expand their store networks.
Here's more from CBRE:
While Hong Kong will remain a key market for luxury goods retailers and no groups are expected to exit the market completely, the trend of consolidation will continue.
However, they will remain focused on prime shops along tier 1 streets in core districts for opportunities to consolidate or upgrade, although they will not bid as aggressively for such locations as they have done in previous years.
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