Prime retail mall asset in core Mong Kok up for tender

Hong Kong, 24 February 2026 – JLL has been appointed as exclusive lead agent for the sale of MPM Plaza, located at 240-244 Portland Street, Mong Kok, by public tender. As a sizeable and well-established shopping centre rarely available for sale in the district, the property combines the advantages of a prime core location with robust footfall and stable rental yields, presenting a highly attractive acquisition opportunity for investors. The tender closes at 12 noon on Wednesday, 15 April 2026.

Situated in the heart of Mong Kok and directly adjacent to MTR Mong Kok station Exit E1, MPM Plaza enjoys seamless connectivity with Hong Kong's extensive transport network. The property occupies one of the busiest pedestrian corridors in the city, positioned directly opposite the commercial landmark Langham Place, drawing a steady flow of local shoppers and tourists, with daily footfall reaching the tens of thousands. Additionally, it champions the concept of "night-time retail" in Mong Kok, with shops operating until the early hours, establishing the mall as a true after‑dark shopping and leisure hotspot with unparalleled commercial value.

The property boasts a total gross floor area of 94,204 sq ft*, with high occupancy rate. Its highly diversified tenant mix comprises international F&B and discount store chains, popular local eateries, lifestyle services, fashion and retail brands, leisure and entertainment, as well as health and beauty operators. This well-established and well‑balanced commercial ecosystem provides investors with a stable, recurring income stream.

Oscar Chan, Head of Capital Markets at JLL in Hong Kong, said: "Large-scale, established commercial properties in the core of Mong Kok are traditionally held long-term by major developers, and rarely come to market. With the gradual recovery of the retail sector in core districts and the resurgence of tourist spending, premium integrated assets such as MPM Plaza situated in a traditional retail stronghold offer not only immediate income generation but also strong prospects for long-term capital appreciation. The investment proposition is clear and compelling. Given the scarcity of comparable properties available for sale in the core urban area in recent years, we anticipate this tender will draw keen interest from local and overseas institutional investors, family offices, and investors seeking long-term yields."

"MPM Plaza boasts an impeccable location and an outstanding operational track record, making it a rare core asset offering immediate rental income upon acquisition. Recent lease renewals have seen healthy rental uplifts, further underscoring its growth potential. In addition, the project comprises over 68% of the undivided shares ownership of the entire lot, giving it substantial redevelopment value in the long run. As interest rates stabilise and capital continues to seek high-quality real assets, there is a distinct market preference for retail properties of this calibre, underpinned by stable cash flow, heavy footfall, and a strategic location, to lock in robust returns. Given that a prime integrated shopping centre of this quality has not been seen in the district for many years, we anticipate a highly enthusiastic response to the tender," he added.

For more information, please contact Mr Chan at 5348-0312.
_{*Provided by the owner, not verified.}