Japanese megastore Don Quijote to open its first Hong Kong location
- The Tokyo-based retail chain will take over the 15,000 sq ft basement space of Mira Place Two on Nathan Road
- Hong Kong debut reflects the Japanese retailer’s third overseas foray, following locations in Hawaii and Singapore
Japanese discount megastore Don Quijote is set to open its first Hong Kong location in the middle of this year, occupying a basement location in Tsim Sha Tsui, in a bid to tap local consumers and booming growth in mainland tourism.
The Tokyo-based chain, known for its diverse product offerings, will move into 15,000 sq ft basement space of Mira Place Two, according to sources.
Miramar Hotel and Investment, the owner of the building, has yet to make an announcement on the lease agreement.
Don Quijote will pay a monthly rental of HK$1 million (US$127,000) for the site at 118 to 130 Nathan Road, according to the source.
The location, the first by the Japanese retailer in Hong Kong, should be open in July.
Miramar Hotel and Investment’s shares rose 1.7 per cent in Hong Kong on Wednesday, ending the session at HK$16.40.
“Don Quijote’s Tsim Sha Tsui location can attract mainland tourists who travel via the high-speed rail and mega bridge,” said Helen Mak, senior director and head of retail services at Knight Frank.
