Hong Kong mall operators including Link Reit, Swire race to install EV chargers to lure wealthy locals, fill tourism gap
- ‘It is our goal to have 1,000 EV charging spots by mid this year,’ Link Reit spokesman says
- The earlier shopping centres adapt, the more advantageous it will be for them: Hong Kong Information Technology Federation executive
EVs have, in fact, grown in popularity; as of the end of April, the total number of such cars in Hong Kong stood at 55,654, or 6 per cent of total vehicles, according to the Environmental Protection Department.
Shopping centres with chargers might attract EV drivers, who tend to be wealthier, to shop and dine out while their cars are getting charged, said Francis Fong, honorary president of the Hong Kong Information Technology Federation (HKITF).
“The earlier shopping centres [install chargers], the more advantageous it will be for them,” said Fong, a Tesla driver. “You do it and people remember. The coming wave will be the competition for this market. When there is momentum [for EVs], the malls have to do it fast.”
The shopping centre operators’ investment in EV chargers comes amid slowing economic growth in mainland China and overseas. This has impacted inbound tourism, which has still not recovered to levels recorded before the coronavirus pandemic and the city’s social unrest.
“It is our goal to have 1,000 EV charging spots by mid this year,” said a spokesman for Link, Asia’s largest real estate investment trust by market capitalisation. Link has 33 car parks equipped with EV chargers. It currently manages 122 car parks with around 57,000 parking spaces.
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The firm said in November 2022 that it would install 3,000 EV charging points in 114 of its car parks in Hong Kong by the end of 2024. To achieve this goal, Link has partnered with three EV charging service providers.
“EV charging facilities should be a trend or a requirement for properties due to the rising popularity of EVs and government policies promoting EV adoption,” Link said in mid June, adding that EV use is growing at a fast pace. “With the technology advancement in EV charging and EV batteries, the trend will evolve greatly in the future.”
Corporations share the government’s commitment to a sustainable future, and K11 Group will work with the community to promote green transport and other sustainability initiatives, its spokesman said.
“The company is always looking for ways to integrate sustainability into every facet of our business,” said a spokesman of Swire Properties. “Our goal is to minimise our carbon emissions, inspire our stakeholders to do the same and work towards net-zero emissions by 2050.”
The addition of EV charging facilities is likely to cost millions, said HKITF’s Fong, but EV sales surpassed those of petrol cars last year, as electricity is much cheaper than petrol in Hong Kong.
Swire Properties has EV chargers at its flagship properties such as Pacific Place, Cityplaza, Citygate Outlets and Taikoo Place, and is “actively exploring ways to expand and enhance” these facilities. For example, Two Taikoo Place, Swire’s newest grade A office tower, is designed with full provisions for EVs that will allow for the addition of more chargers in the future.
SHKP’s EV charging service has been piloted in six shopping malls: East Point City, Tsuen Wan Plaza, V city, Mikiki, Tai Po Mega Mall and Yoho Mall. The 23 superfast EV chargers were used by 2,000 motorists over a period of a few weeks, the developer said.
The developer plans to install superfast EV chargers in 18 malls across Hong Kong by the second quarter of 2024. SHKP currently has 758 EV chargers, covering commercial and residential buildings, and car parks. By the end of next year, it will have 369 more installed.
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Henderson Land Development, meanwhile, aims to provide EV charging facilities for all car parking spaces in 90 per cent of its new residential and commercial developments by 2030, a spokeswoman said.
Henderson’s One Innovale, a residential project in Fanling North, recently set a milestone by equipping all of its car parking spaces with EV charging facilities.
“This exemplifies the group’s unwavering dedication towards environmental sustainability and the vision for a greener future,” Henderson added.