Fortune REIT - Asset Enhancement

The asset enhancement initiatives of Fortune City One Market, the final phase of Fortune City One’s AEIs, commenced in the second quarter of 2013 and completed in October 2013. The layout of the market has been improved and more varieties of trades have been introduced, marking the success of our first-ever wet market AEIs. It underpinned the overall success of AEIs at Fortune City One – Fortune REIT’s most scalable AEIs to date. With an investment of approximately HK$20 million, return on investment of the project exceeded 25%.

Wet Market - Main Entrance

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Wet Market - Corridor

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The asset enhancement initiatives at Fortune City One, the largest property in the portfolio, commenced in October 2011 and carried out in phases until the end of 2012. Covering an area of approximately 200,000 s.f., the asset enhancement initiatives at Fortune City One is the largest project ever within Fortune REIT’s portfolio. The mall offers a more attractive retail experience, with a relaxing new central park – Fortune City One Piazza, which features a more efficient layout and zoning. With an investment of approximately HK$100 million, return on investment of the project is larger than 25%.

Fortune City One - First Floor Corridor

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Fortune City One - Ground Floor Atrium

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The asset enhancement initiatives of Fortune City One reached an important milestone in 2010, with the upgrading of Fortune City One Plus completed within a scheduled 4-month period. The renovation commenced in the May 2010, and was completed in September 2010. The enhancement works included upgrading of common corridors, ceiling and flooring, reconfiguration of space and repositioning of tenant mix. The initiatives improved the overall appearance of Fortune City One Plus and elevated its standard to that of newer malls. The two Park’N Shops (formerly one Park’N Shop at each side of Fortune City One Plus and Fortune City One) have been merged into a new ParknShop Superstore at Fortune City One Plus and has become the only supermarket serving over 10,000 households in City One Shatin, it also increased the footfall of Fortune City One Plus. With an investment of approximately HK$30 million, return on investment of the project exceeded 20%.

Fortune City One Plus - Ground Floor Atrium

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