By Herman Lai, posted Feb 25, 2011 at 11:17 AM, 1,529 views,

Apple Will Spend Over 40 Million Dollars to Open Two Stores In Hong Kong

Apple is planning to open more flagship stores in China, including two in Hong Kong. And guess what, Apple needs to spend at least 40 million USD for those two new Apple stores to be built in HK. Both stores will be opened by the end of this year.

According to South China Morning Post, the first Apple store in HK will be located at IFC Mall in Central (15,000sq ft). Apple plans to open its second 20,000 sq ft store at Hysan Place in Causeway Bay, which is under construction now.

After negotiating for more than a year, Apple signed a 10-year lease with the landlord of upmarket IFC Mall, which has achieved an average rental of HK$250 to HK$300 per sq ft per month. Apple’s investment in the second store would probably be higher because it has a bigger space.

An Apple spokeswoman confirmed the first store will be opened later this year, and said the store will be similar to those in London, Paris and Shanghai.

In China, Apple has two stores in Beijing and two in Shanghai already and more stores are coming up sometimes in this year. Apple’s spokeswoman also said China’s fifth Apple Store will be opening soon in Nanjing Road, which is the busiest shopping location in Shanghai.

One thing I would say here, Apple is really focusing the Asian market.

Source: SCMP