Festival Walk, one of Hong Kong’s largest shopping centres, reopens tomorrow, 16 January. The mall has been shut for more than two months because it was trashed by bar-wielding mobs in November. The damage was so serious Mapletree property management agency had no choice but to close because the public would have been in danger.
Mapletree, an arm of the Singapore sovereign wealth fund Temasek, acquired Festival Walk from Swire Properties in 2011 for $18.8 billion. The mall has 1 million sq ft of retail space over seven storeys with 220 tenants. They include the Festival Grand eight-screen cinema, Glacier ice rink and more than 50 restaurants and coffee shops including Amaroni’s Little Italy, Ana Gura, Dan Ryan’s Chicago Grill, Ciao Chow and House of Canton.
Festival Walk was developed by Swire and CITIC Pacific from 1993, sited at the crossing of East Rail Line and Kwun Tong Line in Kowloon Tong next to the City University. Swire bought CITIC out then sold the mall to Mapletree, which has since folded it into a new real estate investment trust owned by Singapore.
Mapletree said some repairs will still be on-going. It offers three hours free parking if you spend $400.
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