King Fook expands with US$34 million Admiralty lease despite slow luxury sales: analysts

King Fook Jewellery Group’s decision to lease a 550 square metre (about 5,920 square feet) retail space at Pacific Place Phase II in Admiralty signals confidence in Hong Kong’s retail market, despite slowing demand for luxury goods, analysts said. The six-year lease for the shop in Hong Kong’s prime business district carries total base rent of about HK$268.5 million (US$34.2 million), or about HK$3.73 million a month, according to a company announcement filed with Hong Kong Exchanges and...