The Malls at Beijing Oriental Plaza. According to the Beijing Municipal Bureau of Statistics, Beijing’s 2020 GDP grew by 1.2%, below the national GDP growth of 2.3%. Total retail sales of consumer goods declined by 8.9% year-on-year, compared to the national average of 3.9% decrease. Beijing’s per capita consumption expenditure dropped 9.6% year-on-year while the national figure was only down by 1.6% year-on- year. Revenue of The Malls at Beijing Oriental Plaza was RMB896 million (2019: RMB1,127 million). NPI amounted to RMB649 million (2019: RMB854 million). Average monthly passing rent to RMB972 (2019: RMB1,151) per square metre. Occupancy rate was 92.4% (2019: 98.4%). Amid a challenging retail backdrop, The Malls offered rent relief to tenants on a case-by-case basis and focused on the lease renewals, even at a lower rental rate. Leveraging on the excellent location and long- established reputation, The Malls welcomed a number of new tenants in 2020, including Xxxx Xxxx, Juicy Couture, S.T. Xxxxxx, XXXXXXXX, Xxx Xxxxx, THE COLORIST, Xxx Hortons, A Twosome Place, Peet’s Coffee, vivo and Sennheiser. To boost traffic flow and sales, various online and offline marketing campaigns were launched by The Malls, such as electronic coupons, KOL live- streams, gift redemption and promotional events. 20 HUI XIAN REAL ESTATE INVESTMENT TRUST THE MALL AT CHONGQING METROPOLITAN XXXXXXXX XXXXX
The Malls at Beijing Oriental Plaza. According to the Beijing Municipal Bureau of Statistics, Beijing’s GDP during 2021 grew by 8.5% year-on-year to RMB4.0 trillion. Total retail sales of consumer goods increased 8.4% year-on-year to RMB1.5 trillion. The Malls at Beijing Oriental Plaza continues to be a sought-after destination for both retailers and shoppers due to the excellent accessibility and high footfall of its prime location in Wangfujing. During the year, revenue of The Malls was RMB901 million (2020: RMB896 million) and NPI was RMB653 million (2020: RMB649 million). Average monthly passing rent was RMB948 (2020: RMB972) per square metre. Occupancy rate as at December 4 2021 was 96.5% (as at December 2020: 91.5%).
The Malls at Beijing Oriental Plaza. According to the Beijing Municipal Bureau of Statistics, Beijing’s GDP during the first half of 2019 grew 6.3% year-on-year to RMB1,521 billion. Retail sales of consumer goods increased 5.4% to RMB569 billion. Disposable income per capita of Beijing’s residents was RMB33,860, up by 6.9% in real terms. Revenue of The Malls at Beijing Oriental Plaza was up by 1.4% year-on-year to RMB567 million. NPI grew by 2.0% year-on-year to RMB436 million. Average monthly passing rent increased to RMB1,153 (2018: RMB1,126) per square metre. Occupancy rate stood at 98.0% (2018: 97.2%). During the Reporting Period, The Malls welcomed a number of new tenants, including Xxxxxxxxxx, Adidas, CREMIEUX, HAZZYS, Li-Ning, Greybox Coffee, OMM and Staccato.
The Malls at Beijing Oriental Plaza. According to the Beijing Municipal Bureau of Statistics, Beijing’s GDP during H1 2021 grew by 13.4% year-on-year to RMB1.92 trillion. Total retail sales of consumer goods and per capita consumption expenditure increased 21.0% and 15.8% year-on-year. INTERIM REPORT 2021 11
The Malls at Beijing Oriental Plaza. According to the Beijing Municipal Bureau of Statistics, Beijing’s GDP shrank by 3.2% year-on- year to RMB1,621 billion during the first half of 2020. Retail sales contracted by 16.3% year-on- year to RMB597 billion.
