Link leaves bitter taste of nostalgia by Eddie Luk
A Link REIT push to highlight
traditional restaurants and shops has backfired amid criticism that the mall operator's high rents have all but forced out such businesses.
The Real Estate Investment Trust launched its "Link the Tastes" program last month so traditional and renowned restaurants in its malls could showcase "hidden gems" of the unique local food culture and boost their business.
The dozens of restaurants participating include Shing Kee Noodles in Lek Yuen Estate, Sha Tin, and Kam Yin Restaurant in Kai Tin Estate, Lam Tin.
The Link also set up a Facebook account for the public to comment on food quality.
But hundreds of Facebook users descended on the page to strongly criticize the mall operator for forcing renowned and family-run small restaurants and shops to move out with its regular rent hikes.
"The Link REIT is shameless and disgraceful," wrote one blogger. "As it has kept increasing rents, numerous traditional and unique restaurants and shops have been forced to move out from its malls."
Others accused the Link of uprooting traditional culture by eliminating family- run restaurants and shops that competed with the chain outlets in its malls.
Li Kui-wai, City University associate professor of economics and finance, said: "Many `nostalgic' family-run restaurants and shops cannot afford the rents in the Link malls as they rarely make huge profits.
"It seems the operator prefers to rent premises to chain food stores to ensure its rental income remains stable."
Cheung Man-wai of concern group The Link Watch urged the mall operator to reduce rents and offer more rental concessions to allow small-scale restaurants and shops to run their businesses in its properties.
The Link has managed the largest SAR retail portfolio since the Housing Authority in 2005 privatized commercial spaces in public housing estates, including 180 shopping malls and car parks.
Then, as now, it was slammed for forcing out small shops by way of higher rents.
The Link said its Tastes publicity campaign aims to get more shoppers and tourists to its malls and enhance tenants' businesses.
The campaign is dedicated to enhancing the competitiveness of small businesses, it added, emphasizing it has not tried to delete online criticisms and respects free speech.
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It's all about "how much you made when you were right" & "how little you lost when you were wrong"