‘Upstairs’ moves downstairs: Hong Kong outlets head to street level as landlords cut rents

Retailers and restaurant operators in Hong Kong are rethinking how they use space as rents fall and demand weakens by moving back to street-level shops and experimenting with short-term “pop-up” leases. Hing Kee Java Edible Bird’s Nest (JEBN), known locally as “Lau Soeng” – Cantonese for “upstairs” – built its business by avoiding expensive street-front rents and operating from higher floors. It is now doing the opposite. “After the pandemic, the retail market has been weak,” said Wallace Cho...

By Peggy Ye